MONTREAL – Wireless and satellite component designer Mitec Telecom has appointed Jeffrey Mandel as chair of its board of directors.
Mandel joined Mitec’s board in May 2006. He’s President of AMR Securities Services Inc., and has contributed to the development of Mitec’s financial restructuring and turnaround strategy.
“Jeffrey Mandel has helped Mitec define new strategic objectives, build its resource base and prove its capabilities as a leading provider of wireless satellite communications,” said Mitec’s former chair Hubert Marleau, who will remain a director of Mitec. “This support has helped Mitec’s senior management team deliver its first positive cash flow since 2004.”
Mandel stated, “Since the beginning of 2008, we have won many new contracts due in large part to our innovative engineering capabilities, the addition of efficient, new manufacturing capacity in China and the synergies we are realizing from our acquisition strategy. I am pleased to have the opportunity to serve as chairman and look forward to continue working with my fellow board members, management and employees on the business initiatives underway and those on the horizon to continue increasing shareholder value.”
In his capacity as chairman, Mandel will continue to manage Mitec’s investor and corporate communications.
