New COO Brings 25 Years of High-tech Manufacturing Experience and a Proven Record of Controlling Product Costs
MIDDLETOWN, RI – August 21, 2001 – KVH Industries (Nasdaq: KVHI) announced today that it has hired S. Joseph Bookataub as the company’s new Chief Operating Officer.
“Joe Bookataub is a seasoned professional who will be a tremendous asset in helping to lead our management team,” declared Martin Kits van Heyningen, KVH president and chief executive officer. “The breadth of his management experience, from GE, Xerox, NCR, and other leading technology firms, and his proven record of controlling and reducing product costs in growing companies will be invaluable as we position the company to pursue our new product initiatives.”
Mr. Bookataub brings to KVH extensive experience in the areas of lean manufacturing, ISO procedures and certification, and supply chain management, as well as procurement and quality assurance. While serving as the vice president of operations and quality for Pyramid Technology Corporation, he successfully reduced product costs by 50 percent in three years. During his tenure at Pyramid, the company also grew from $40 million to $270 million in annual revenues.
Mr. Bookataub commented, “This is an exciting time to join KVH Industries as the company prepares to bring a number of breakthrough products to market in 2002. These products includes our high-voltage optical current sensor, a low-profile antenna that will bring satellite TV and broadband Internet access to automobiles, and a new generation of high-speed optical networking components. As the Chief Operating Officer, I am committed to combining the efforts of our manufacturing, design, engineering, and suppliers to significantly improve our product cost, functionality, and manufacturing capabilities while preparing KVH for the growth that we anticipate in the coming years.”
Most recently, Mr. Bookataub was vice president of manufacturing for Mayan Networks, an optical networking firm based in San Jose, California. Mr. Bookataub holds a BSEE from the University of Rhode Island, an MBA from James Madison University, and completed the Stanford Executive MBA program.
KVH Industries, Inc., is an international leader in developing and manufacturing innovative, mobile, high-bandwidth satellite communications systems, tactical navigation products, and fiber optic products. The company is based in Middletown, Rhode Island, and has a fiber optic research and manufacturing facility in Tinley Park, Illinois, and a European sales office in Hoersholm, Denmark.
This press release may contain certain forward-looking statements that involve risks and uncertainties. The actual results realized by the Company could differ materially from the statements made herein. Factors that might cause such differences include, but are not limited to: failure to develop and market fiber optic products; lack of reliable vendors, service providers and outside products; continued poor military sales cycles; unforeseen changes in competing technologies and products; worldwide economic variances; and poor or delayed research and development results. Additional factors are discussed in the company’s Annual Report on Form 10K filed with the Securities and Exchange Commission on February 8, 2001. Copies are available through the company’s Investor Relations Department or web site.