– USA, MD – TESSCO Technologies Incorporated (NASDAQ: TESS) today announced the appointment of John Beletic as Chair of the Board of Directors, succeeding Robert Barnhill, Jr.
Mr. Barnhill, who founded the Company and served as chair for more than 25 years, remains a director.
Mr. Beletic’s appointment follows the adoption by the Board earlier this year of Corporate Governance Guidelines and Board Diversity Guidelines, which in addition to memorializing historical board governance principles, focus on reducing the age and length of tenure of directors over the next several years, and an increase in board diversity.
The Board also announced the election by Shareholders on July 25, 2020, of Stephanie Dismore to serve on the Board.
Additionally, the Board expects that Dennis Shaughnessy will not stand for reelection at the 2021 Annual Meeting of Shareholders, as a next step in the Board’s evolution and refreshment over the next few years.
About Stephanie Dismore
Ms. Dismore has served as a senior vice president at HP, Inc. since 1999, and currently leads all aspects of HP’s market strategy and P&L management for HP’s largest geographic market. With the addition of Ms. Dismore, two diverse directors have joined the Board over the past year, including Sandip Mukerjee who joined the Company as President, CEO and as a member of the Board in August 2019. Mr. Mukerjee brings significant industry experience, along with a strong focus on returning the Company to profitability.
About John Beletic
Mr. Beletic has served as a director of the Company since July 1999 and as Lead Director since August 2008. Mr. Beletic was CEO of X-IO Technologies from November 2011 to May 2014 and served on its board until 2016. Mr. Beletic was a venture partner or operating partner with Oak Investment Partners, a venture capital firm, from July 2002 to April 2018. Mr. Beletic serves on the board of Shareablee, a social media analytics company, and J5 Infrastructure, a provider of site selection, zoning and engineering services to the mobile carrier industry. Earlier in his career, Mr. Beletic served as CEO of telecommunications companies Tigon Corporation, PageMart Wireless, and Weblink Wireless.
Beletic said, “We believe the success of these three initiatives, coupled with developing industry tailwinds, including global investments in 5G, WiFi-6, Small Cells and demand related to those from construction companies and OEMs, will enable the Company to overcome many of the headwinds it faces, result in improved EBITDA performance in the second half of fiscal 2021, and create a pathway toward full-year profitability in fiscal year 2022.”
About TESSCO Technologies Incorporated
TESSCO Technologies, Inc. is a value-added technology distributor, manufacturer, and solutions provider serving commercial and retail customers in the wireless infrastructure and mobile device accessories markets. The Company was founded more than 30 years ago with a commitment to deliver industry-leading products, knowledge, solutions, and customer service. Tessco supplies more than 50,000 products from 350 of the industry’s top manufacturers in mobile communications, Wi-Fi, Internet of Things, wireless backhaul, and more. Tessco is a single source for outstanding customer experience, expert knowledge, and complete end-to-end solutions for the wireless industry.
For more information : https://www.tessco.com/
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