PCTEL CEO announces retirement in 2017
Business Wire
BLOOMINGDALE - Telecom solutions provider PCTEL said Chairman and CEO Marty Singer will step down on January 2, 2017 and serve as Vice Chair until his retirement later in the year.
The commapny said David Neumann, who currently leads PCTEL's RF Solutions business as its senior vice president and general manager, will become the company's CEO in January. Steve Levy, a current director, will serve as PCTEL's chairman at that time. Jeff Miller, currently the senior vice president of global sales and services for RF Solutions, will succeed Neumann as its General Manager.
Singer served as a director for the company in 1999 prior to being appointed as nonexecutive chairman in early 2001. Later that year, the board asked him to lead PCTEL as its chairman and CEO. Singer led PCTEL's transition from a supplier of soft analog modems to a global provider of wireless products and services.
During Singer's tenure, the company completed several transactions, including the acquisition of engineering services operations, multiple antenna companies and product lines, mobile software products, cellular test tools and cloud-based, analytic products. To fund these transactions, the company generated $130 million from the divestiture of its connectivity software operation and the divestiture of its soft modem line and associated IP licensing agreements.
"It has been an honor to be part of the management team at PCTEL and I am proud of the team and the business that we have built together. We have been planning our executive succession for some time as it is vital to the company's future to have an orderly transition to new leadership," said Singer.
Neumann, who has spent his career in wireless test and measurement, joined PCTEL in 2009. Since then, he built the China and APAC sales organization for RFS, introduced the IBflex, SeeWave and new SeeHawk products. Neumann has integrated in-building engineering services and data analytics into the organization and has been involved in multiple acquisitions. Neumann holds an electrical engineering degree (BSEE) from Penn State and an MBA from the University of Chicago.
"I look forward to finishing the year with positive momentum and working with Marty and the Board on a smooth transition to my new role," said Neumann.
The company has grown from $3.2 million to approximately $25 million in quarterly product revenue since 2003 and now employs nearly 500 employees.