Ken Peterman, Former CEO of Comtech, Endorses Michael Porcelain's Full Slate of Director Nominees

Core Message - Ken Peterman, former CEO and Chairman of Comtech Telecommunications Corp, endorses a complete board overhaul to restore stockholder value [1] - Peterman is the third former CEO of Comtech to call for a fully reconstituted Board of Directors [2] Board and Leadership Changes - Peterman's endorsement follows an open letter by Fred Kornberg and Michael Porcelain detailing the urgent need for board and leadership changes [2] - The current Board's actions have disrupted progress, driven away executives, impacted customer relations, and impeded stockholder value [4] - The June 2024 financing deal had a blended interest rate of 14.0%, with an effective interest rate exceeding 18.0% due to warrants issued to lenders [4] Strategic Initiatives - Peterman was a driving force behind the One Comtech initiative, aimed at unifying businesses, cutting operating costs, and driving efficiencies [3] - The One Comtech strategy was built on the foundation laid by Fred Kornberg and Mike Porcelain, focusing on acquisitions and operational excellence [4] Operational and Strategic Expertise - Mike Porcelain was instrumental in expanding Next-Generation 911 and satellite earth station product lines, and overseeing acquisitions like Solacom Technologies Inc and UHP Networks [4] - Fred Kornberg's tenure as CEO transformed Comtech from less than $20 million in revenue to a global leader with over 2,000 employees [5] Shareholder Perspective - Peterman, as a large stockholder, emphasizes the need for a Board with deep operational expertise and a proven track record of delivering long-term stockholder value [6] - His endorsement is independent and based on his assessment of what is best for Comtech's stockholders, customers, and employees [6] Background on Ken Peterman - Ken Peterman is the Founder and CEO of TheSpyGlass Group, specializing in defense and aerospace market trends [7] - He served as President and CEO of Comtech from August 2022 and was previously President of Viasat Government Systems from 2013 to 2021 [7]