COM DEV names Michael Pley as CEO

CAMBRIDGE, ON, Dec. 14 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that its Board of Directors has unanimously decided to appoint Mike Pley to the role of Chief Executive Officer on a permanent basis.  Mr. Pley had been serving as Interim CEO since September 1, 2010.

"In September the Board made a decision to replace the CEO as a key step towards improving the company's operational performance and profitability," said Terry Reidel, Chairman of COM DEV.  "We engaged international recruiting firm Odgers Berndtson to conduct a global search for a new CEO, one who will provide the determined leadership and focus to improve COM DEV's performance.  Their mandate was to deliver the very best CEO, a candidate who would balance continuity and change.  At the same time we worked closely with management to identify specific solutions to the challenges the company has been facing, and to evaluate the opportunities within the business.  We determined that our performance targets can best be achieved through a course correction rather than through sweeping change."

Mr. Reidel continued:  "Odgers approached 86 candidates from several different countries as a part of the search process.  Extensive due diligence was completed on a short list of 15 external and internal candidates, culminating in the selection of Mr. Pley.  On the basis of the process we've undertaken in the past few months, the Board feels strongly that Mike Pley is the right person to lead this company. 

"We have been impressed with the decisive leadership Mike has shown since assuming the Interim CEO role.  He has set a clear course for moving forward with a rigorous focus on profitability and the organization is responding. He has realigned the roles, responsibilities and accountabilities of the executive management team, has flattened the reporting structure, and has been working with that team and the Board to review the strategies within each of the lines of business".

"I am confident that there are some key Fiscal Year 2011 adjustments we can make to improve the health of our business," said Mike Pley, CEO.  "COM DEV is as determined as ever and as we focus our strategy and our accompanying efforts to deliver it, the results will follow.  I am immensely excited for what FY 2011 has in store for COM DEV's shareholders and employees."   

Mike Pley first joined COM DEV in 1983 as a design engineer.  He has held a number of management roles at the Company, most recently serving as Chief Operating Officer from 2008 to 2010 with responsibility for the Company's four operating divisions.  As President of COM DEV Space from 2001 to 2008, Mr. Pley was responsible for the operational performance of the Company's core space business. This period was marked by COM DEV's increased market share in the commercial space sector, as well as the substantial penetration of the military and civil space markets. Mr. Pley graduated Summa Cum Laude from McMaster University in Hamilton, Ontario with a Bachelor of Engineering (Electrical) and Management.

Mr. Pley will also become an Executive Member of the Board.

About COM DEV

COM DEV International Ltd. (www.comdevintl.com) is a leading global designer and manufacturer of space hardware subsystems.  With facilities in Canada, the United Kingdom and the United States, COM DEV manufactures advanced products and subsystems that are sold to major satellite prime contractors for use in communications, space science, remote sensing and military satellites.

This news release may contain certain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The Company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the Company's new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the Company's business prospects may be materially different from forward-looking statements made by the Company.

The triangular logo and the word COM DEV are each registered trademarks and the property of COM DEV Ltd. All rights reserved.

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