MIDDLETOWN, R.I., Oct. 3, 2012 (GLOBE NEWSWIRE) -- KVH Industries, Inc. (Nasdaq:KVHI), a leading provider of global satellite communications and guidance and stabilization solutions, today announced that its Board of Directors appointed Mr. Peter Rendall, A.C.A., to serve as KVH's Chief Financial Officer, effective October 1, 2012, thereby replacing the company's previous Chief Financial Officer, Patrick Spratt, who is retiring. Mr. Spratt will continue to work with KVH through a short transition period and then as a consultant. Mr. Rendall brings extensive financial and operational leadership experience to KVH. He began his career at PricewaterhouseCoopers in London before moving to Massachusetts in 1995 to join Logica, an IT consulting firm, as its Vice President of Finance and Operations. Mr. Rendall then served as CFO at Elcom International, an international IT products and services business and SaaS supply chain software division. He served as both CFO and CEO at Top Layer Security and, most recently, as consulting CFO to JobSmart Partners. "I am excited to work with Peter on KVH's continuing success and the global expansion of our operations. He has a track record for success and a keen understanding of technology-focused markets, and we look forward to utilizing his many talents. We expect that Peter will build upon the strong financial footing that Pat Spratt established during his decade-long tenure as KVH's CFO," says Martin Kits van Heyningen, KVH's Chief Executive Officer. "We would like to thank Pat for his many contributions over the past 10 years, helping us to grow from a small manufacturing company to the provider of mini-VSAT Broadband SM, the world's leading maritime VSAT service. Many exciting development opportunities are on the horizon at KVH and throughout the markets we serve, and we believe that, with the solid background that Pat built and Peter's leadership going forward, our financial team will be well prepared to help us make the most of them." Note to Editors: High-resolution, press-ready photos of both Mr. Peter Rendall and Mr. Patrick Spratt are available at http://press.kvh.com for download and editorial use. About KVH Industries, Inc. KVH Industries is a leading manufacturer of solutions that provide global high-speed Internet, television, and communications services via satellite to mobile users at sea and on land. KVH is also a premier manufacturer of high performance sensors and integrated inertial systems for defense and commercial guidance and stabilization applications. The company is based in Middletown, RI, with facilities in Illinois, Denmark, Norway, and Singapore.
This release may contain certain forward-looking statements that involve risks and uncertainties. Forward-looking statements include, for example, statements regarding the company's anticipated global expansion, available development opportunities and our ability to take advantage of those opportunities. The actual results realized by the company could differ materially from the statements made herein. Factors that may cause such differences include, among others, ongoing economic uncertainty; potential increased competition; new product and service offerings by our competitors; unanticipated declines in demand for our products and services; seasonal factors; the need for or delays in qualification of products to customer or regulatory standards; potential declines in military sales, including to foreign customers; the unpredictability of defense budget priorities as well as the order timing, purchasing schedules, and priorities for our defense products, including possible order cancellations; as well as the other factors discussed in KVH's most recent Form 10-Q filed with the SEC. KVH does not assume any obligation to update its forward-looking statements to reflect new information or developments.KVH is a registered trademark of KVH Industries, Inc. "mini-VSAT Broadband" is a service mark of KVH Industries, Inc. All other trademarks are the property of their respective companies.
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