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President and CEO of Symmetricom Inc. to retire at end of fiscal 2009
February 10, 2009
SAN JOSE, Calif. -- Symmetricom, Inc. (NASDAQ:SYMM), a worldwide leader in precise time and frequency technologies that accelerate the deployment and enable the management of next generation networks, announced today that President and Chief Executive Officer Thomas W. Steipp has informed the Board of Directors that he will retire from the Company on June 28, 2009, capping an 11-year career with the Company, including over 10 years as President and CEO. The Board of Directors will immediately initiate a search for his replacement. Mr. Steipp is expected to remain in his current role until June 28, 2009. Upon his retirement, Mr. Steipp will also resign from the Company’s Board of Directors.
“On behalf of the entire Board of Directors, we thank Tom for his outstanding leadership, dedication and contributions to Symmetricom, and we wish him well in his retirement” said Robert T. Clarkson, Chairman of the Board of the Company. “Since Tom first joined Symmetricom, he has played a critical role at the Company. Under his management, Symmetricom has achieved strong growth in its revenue and profits by introducing new products and completing accretive acquisitions, and the Company has become a world leader in the generation, synchronization and distribution of precise time and frequency signals.”
Symmetricom Inc. (Nasdaq: SYMM)
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