Exhibit 99.1
Company Contact:
RELM Wireless Corporation
(321) 984-1414
RELM Wireless Announces Leadership Changes
WEST MELBOURNE, FL, January 17, 2017 – RELM Wireless
Corporation (NYSE MKT: RWC), a holding company focused on the
public safety industry, today announced a number of leadership
changes. The Board of RELM Wireless created an Executive Committee
of the Board of Directors consisting of Kyle Cerminara as the
committee’s Chairman and Tim O’Neil, who will continue
to serve as the Chairman of the Board of Directors. The Executive
Committee will work closely with management to oversee the business
and affairs of RELM Wireless and evaluate strategic investments
with the objective of improving the growth and profitability of the
Company.
“We
believe there is significant opportunity to improve the financial
performance at RELM Wireless,” said Kyle Cerminara, Chairman
of the Executive Committee of RELM Wireless and CEO of Fundamental
Global Investors. “RELM Wireless has a long track record of
providing innovative products and services to the public safety
industry. The Executive Committee and the leadership of RELM
Wireless will work tirelessly to increase the company’s
capabilities and to grow the company over the
long-run.”
The
Board of Directors of the Company also announced the promotion of
Tim Vitou to President of RELM Wireless. Tim Vitou has served as
Senior Vice President of Sales and Marketing of RELM Wireless since
May 2008 and has been a critical driver of the recent increase of
sales at the Company. Tim Vitou will work closely with the newly
created Executive Committee and will be responsible for the day to
day sales and operations of the Company. David Storey, who has
served as the President and Chief Executive Officer of RELM
Wireless will be departing the Company, effective Tuesday January
17, 2017.
Lewis
Johnson, Board Member of RELM Wireless and President of Fundamental
Global Investors added, “We are looking forward to working
with Tim Vitou, the senior management team and the Board of
Directors to enhance shareholder value. Fundamental Global
Investors is very excited about the future of RELM Wireless. We
wish David Storey good luck in his future endeavors and we thank
him for his many years of service to RELM
Wireless.”
RELM
Wireless also announced the appointment of General Gray Payne to
the Board of Directors to replace the vacancy created by the
resignation of Don Goebert, who has served on the Board of
Directors of RELM Wireless for several decades.
General
Payne has served as Senior Vice President of The Columbia Group
(“TCG”), where he has been responsible for managing the
Marine Corps Programs Division (since September 2010) and the Navy
Programs Division (since October 2013), with combined revenue of
approximately $29 million. TCG is a federal consulting firm working
with the Department of Defense, Department of Homeland Security,
NOAA and private clients. TCG consults in the areas of logistics,
acquisitions, program management, information technology, training,
marine architecture and engineering, and command and control
systems. Since December 2011, General Payne has also provided
consulting services to and served on the Advisory Council of
Marstel-Day, LLC, located in Fredericksburg, Virginia, which
consults in the areas of conservation, environmental compliance,
and encroachment. Prior to September 2010, General Payne was on
active duty with the Marine Corps for 10 years, retiring as a Major
General. Prior to March 2001, he worked with a number of companies
in various capacities, including as a management consultant, Chief
Financial Officer, Chief Operating Officer, and Chief Executive
Officer. General Payne currently serves on two non-profit boards:
The Marine Corps Association (since 2004) and the Marine Corps
Association Foundation (since 2010). He brings extensive strategic,
operational and leadership experience to the Board.
Tim
O’Neil, Chairman of the Board of Directors commented,
“We would like to welcome General Gray Payne to the RELM
Wireless Board. We are excited about his extensive experience and
believe he will be a valuable addition to the Board. We would like
to thank Don Goebert for his many years of service to the company
and we hope Don will remain a friend of RELM Wireless for many
years to come.”
About RELM Wireless Corporation
As an
American Manufacturer for almost 70 years, RELM Wireless
Corporation has produced high-specification two-way communications
equipment of unsurpassed reliability and value for use by public
safety professionals and government agencies, as well as radios for
use in a wide range of commercial and industrial applications.
Advances include a broad new line of leading digital two-way radios
compliant with APCO Project 25 specifications. RELM’s
products are manufactured and distributed worldwide under BK Radio
and RELM brand names. The Company maintains its headquarters in
West Melbourne, Florida and can be contacted through its web site
at www.relm.com or directly at 1-800-821-2900. The Company’s
common stock trades on the NYSE MKT market under the symbol
“RWC”.