KVH Announces Planned Retirement of CFO
February 23 2012 - 3:30PM
KVH Industries, Inc. (Nasdaq:KVHI) today announced that Chief
Financial Officer, Patrick Spratt, plans to retire from his
position later this year. He turns 65 in November. Mr. Spratt
intends to stay on until a suitable successor is found and has
indicated his willingness to serve as a consultant during his
retirement to facilitate a smooth transition. He began his
successful tenure as Chief Financial Officer of KVH in July 2002.
Martin Kits van Heyningen, KVH's president and chief executive
officer, stated, "Pat has made an incredible contribution to our
success during his tenure. He has helped us grow the company
profitably over the years and is leaving the company on a very
strong financial footing. Pat has built a strong team and his
successor will inherit a very capable organization."
Mr. Spratt added, "I have thoroughly enjoyed everything about my
experience at KVH. The people are the best. I am very
proud of what we have accomplished together, and I look forward to
seeing the company continue to grow and prosper."
About KVH Industries, Inc.
KVH Industries is a leading manufacturer of solutions that
provide global high-speed Internet, television and voice services
via satellite to mobile users at sea, on land, and in the air.
KVH is also a premier manufacturer of high performance
sensors and integrated inertial systems for defense and commercial
guidance and stabilization applications. The company is based
in Middletown, RI, with facilities in Illinois, Denmark, Norway,
and Singapore.
CONTACT: Nicole Mongillo
KVH Industries, Inc.
401-845-2443
nmongillo@kvh.com
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