BOSTON, Mass. -- Zoom Telephonics, Inc. ("Zoom" or "the Company") (OTCQB: ZMTP), a leading producer of cable modems and other communication products, today announced Frank Manning's retirement as CEO and acting CFO of Zoom Telephonics effective February 1, 2020.
Joe Wytanis, Zoom's President, will become CEO and Jacquelyn Barry Hamilton will become acting CFO on that date. Frank Manning will become an advisor to Zoom and will remain as a Director. Jeremy Hitchcock, a current major shareholder of Zoom and a Director, will become Chairman of Zoom's Board of Directors.
"I co-founded Zoom in 1977, and I'm proud of what we've built under my leadership," said Mr. Manning. "After 43 years, it's time for me to reduce my role at Zoom. Zoom has been experiencing significant growth since 2016, and we're positioned to have a great year in 2020 and beyond. The fourth quarter of 2019, our last quarter of the fiscal year, should show revenue growth at least 37% above Q4 2018; and year 2019 revenue should be at least 15% above year 2018.
"We have a number of exciting products coming soon including DOCSIS 3.1 cable modems and modem/routers, mesh router products, and Cat4 cellular modems and routers. I'm confident that Joe Wytanis, who was hired as President with this transition in mind, will do a great job. We've worked together for over a year now, and I know him as a very capable leader who understands the business and is highly respected by Zoom's employees, suppliers, and customers. I'm also excited about some of the new members of our team including Senior VP John Lauten, VP Sales Alla Berina, and our soon-to-be acting CFO Jacquelyn Barry Hamilton. I look forward to assisting during the transition and in my ongoing role as a Director."