Westell Technologies (NASDAQ:WSTL) said Tuesday morning it appointed Kirk Brannock to serve as its interim CEO effectively from Oct. 17, succeeding J. Thomas Gruenwald. The company said it plans to start a search for a permanent CEO and expects to complete it within the next six months. Westell Technologies also said company director Dennis Harris was appointed as interim board chairman. The company noted that Harris and CFO Thomas Minichiello will help execute interim leadership duties until Brannock joins on Oct. 17.
The stock decreased 3.63% or $0.021 during the last trading session, hitting $0.56. About 61,957 shares traded hands. Westell Technologies Inc. (NASDAQ:WSTL) has declined 51.72% since February 24, 2016 and is downtrending. It has underperformed by 63.65% the S&P500.
Westell Technologies, Inc. is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The company has a market cap of $33.79 million. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. It currently has negative earnings. The Firm operates in two divisions: In-Building Wireless and Communication Solutions Group (CSG).
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