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Giga-tronics Announces Management Changes

1227 Days ago

DUBLIN, Calif., Sept. 13, 2018 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (OTCQB:GIGA) announced the appointment of Jeffrey S. Towne to the position of Vice President of Operations effective September 11, 2018.  He fills the position formerly held by Suresh Nair, who left the Company to pursue other opportunities.  Mr. Towne, currently the Company’s Director of Manufacturing, has been with the Giga-tronics since 2016.  Prior to joining Giga-tronics, Mr. Towne was an Operations Manager for Amazon.com.  Mr. Towne has served 22 years in the US Air Force as an Electronic Warfare Officer.  While in the Air Force, he held numerous leadership positions in flying units and aviation program management.  Mr. Towne holds a master’s degree in history and is a SIX SIGMA Green Belt, LEAN certified, and holds Project Management Professional (PMP) certification. 

Giga-tronics CEO Mr. John R. Regazzi said, “The Company is very fortunate to have someone of Mr. Towne’s experience leading our Operations.  His operations background combined with his US Air Force experience are critical to our business.”

Giga-tronics is a publicly held company, traded on the OTCQB Capital Market under the symbol "GIGA". Giga-tronics produces YIG (Yttrium, Iron, Garnet) tuned oscillators, RADAR filters, and microwave synthesizers for use in military defense applications as well as sophisticated test and measurement equipment primarily used in electronic warfare test & emulation applications.

This press release contains forward-looking statements concerning operating results, future orders, and sales of new products, shippable backlog within a year, long term growth and margin, expected shipments, product line sales, and customer acceptance of new products. Actual results may differ significantly due to risks and uncertainties, such as: uncertainty as to the company’s ability to continue as a going concern; delays in customer orders for the new ASG and our ability to manufacture it; receipt or timing of future orders, cancellations or deferrals of existing or future orders; our need for additional financing; results of pending or threatened litigation; the volatility in the market price of our common stock; and general market conditions.  For further discussion, see Giga-tronics' most recent annual report on Form 10-K for the fiscal year ended March 31, 2018 Part I, under the heading "Risk Factors" and Part II, under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations."

Lutz Henckels
(925) 328-4650 x4698

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