Signal Technology Announces Appointment of George Lombard as President and Chief Executive Officer
SUNNYVALE, Calif.--(BUSINESS WIRE)--June 2, 1998--Signal Technology Corp. (AMEX:STZ) Tuesday announced the appointment of George Lombard, 58, as the corporation's new president and chief executive officer, effective June 30, 1998.
Lombard will replace Dale L. Peterson, who has served as chairman and chief executive officer of Signal Technology for the past eight years. Peterson will continue as chairman.
Lombard joins Signal Technology after serving since May 1995 as president of L-3 Communications' Display Systems company in Atlanta (formerly Loral Information Display Systems). During Lombard's three years with Display Systems, he led the company through extensive redirection in areas such as operations, engineering and technology investments, target markets and financial restructuring.
Under Lombard's leadership, Display Systems realized significant gains in market position and backlog (up 52 percent), with increased revenue and improved profit, from a loss in calendar 1996 to 10 percent EBIT in calendar 1997.
Prior to joining Loral Corp., Lombard spent two years with Unisys Government Systems Group in McLean, Va., as group vice president and head of C4I programs. Before joining Unisys, Lombard was with the Lockheed Corp. for 25 years.
Lombard's responsibilities have included senior executive level positions in operations, program management, international programs, corporate and business development, contracts and finance, as well as strategic planning.
"We are very pleased that Mr. Lombard is joining Signal Technology," commented Peterson, current chairman and CEO. "During his 35-year career in the aerospace industry, Mr. Lombard has developed a strong track record of successfully managing the marketing, development, manufacturing and support of aerospace products and systems.
"He has the experience and expertise to help Signal Technology grow its businesses of microwave and RF components, power supplies and communication components for defense and wireless markets. I am confident Mr. Lombard will lead Signal Technology to increased profitability and shareholder value into the 21st century."
Lombard stated: "I am pleased to have been offered the opportunity to join Signal Technology. It is a company with excellent potential, and I look forward to working with the employees and management team as we continue to expand the company's global presence." |
