NEW YORK -- Comverse Technology, Inc. (Nasdaq:CMVT) ("CTI"), today announced that, effective July 24, 2012, Thomas B. Sabol, the former Chief Financial Officer of Hypercom Corporation, will become Chief Financial Officer of CTI's wholly-owned subsidiary Comverse, Inc. ("CNS"), a global leader in business support solutions (BSS), mobile Internet and value-added services (VAS). Joel Legon, currently serving as CTI's interim Chief Financial Officer, will continue in such position and in a leadership position within the Global Finance team at CNS. As previously announced, CTI plans to spin off CNS as an independent public company in a transaction that is expected to become effective in the third quarter of this fiscal year.
"Tom Sabol is an accomplished financial and operational executive with a proven record of success with global technology companies," said Philippe Tartavull, Comverse, Inc.'s President and Chief Executive Officer. "We are excited to have Tom join the team, and we are confident that he will have a positive impact on the financial performance and efficiency of our operations. We are also very appreciative of Joel Legon's outstanding service in his interim role and look forward to his continuing contribution to CTI and CNS."
Comverse Inc. (Nasdaq: CNSI)