TORONTO, Aug. 24, 2015 /CNW/ - Baylin Technologies ("Baylin") (TSX: BYL) today announced the appointment of Randy Dewey as Baylin's President and Chief Executive Officer, effective immediately.
"The Board of Directors is pleased that Randy will be taking over the role of President and CEO on a permanent basis," said Jeffrey Royer, Chairman of Baylin. "In his first quarter as Interim CEO, he grew top-line revenue and reduced our EBITDA loss in half. Randy has an in-depth understanding of the Company's products, operations and market opportunity for all three of our target markets – Infrastructure, Mobile and Networking. He is a familiar face within the organization, and he has strong relationships with the senior management team. We are confident he is the right individual to lead to Baylin back to sustainable growth and profitability."
Throughout his 25-year professional career, Mr. Dewey has been involved in numerous business turnarounds, working with companies to return them to profitability and sustainable growth. Mr. Dewey began his career in heavy manufacturing with a focus on lean manufacturing and shop floor management. Over the last 15 years, Mr. Dewey has worked with a number of businesses including, an automotive company, a printing company, a pulp and paper company and a broadcasting company. Mr. Dewey also worked for a number of years with Blackstone companies. He has served as Vice-Chairman of the Board of Galtronics and is currently Vice-Chairman of Baylin.
"I am encouraged by the improvements we have seen in the business performance and am excited by the long-term opportunities I see for Baylin," said Randy Dewey, President and Chief Executive Officer of Baylin. "I'm confident that with the changes we're making across the organization coupled with the positive shifts we are seeing in certain of our end markets, we will get Baylin back on track and well-positioned for long-term growth."
Mr. Dewey will be based out of the Baylin office in Toronto, Canada.
About Baylin Technologies
Baylin (TSX: BYL) is a leading global technology company with more than 37 years of experience in designing, producing and supplying innovative antennas for the Mobile, Networking and Wireless Infrastructure industries. We strive to meet our customers' needs by being their trusted partner from initial design to production with an extensive portfolio of custom engineered solutions as well as leading edge off-the-shelf antenna product.
SOURCE Baylin Technologies Inc.
For further information: Investor Relations: Conrad Seguin, NATIONAL Equicom, 416.815.0700 x 251, email@example.com