BK Technologies announces planned retirement of CFO Bill Kelly after 26 years with the company

WEST MELBOURNE, FL / ACCESSWIRE / Jan 11, 2022/ BK Technologies Corporation (NYSE American: BKTI) announced today that 65-year-old Executive Vice President and Chief Financial Officer Bill Kelly is retiring after an outstanding 26-year career with the company. BK Technologies has initiated an outside search for a new Chief Financial Officer and Kelly has agreed to remain on board during this process (by June 30, 2022 at the latest) and to provide an advisory role during the transition if necessary.

“On behalf of the entire BK Technologies team, I would like to thank Bill for his valuable contributions over the past 26 years to the company,” said Chief Executive Officer John Suzuki. “His commitment has led to the creation of a world-class financial organization that positions us for success in the years to come. I look forward to working with Bill during the transition period and wish him all the best for his well-deserved retirement.”

Bill Kelly served as Executive Vice President and Chief Financial Officer of BK Technologies since July 1997 and Secretary of the Company since June 2000. From October 1995 to June 1997 he was Vice President and Chief Financial Officer of the company’s subsidiary, RELM Communications, Inc.

Mr. Kelly commented, “I am honored to have been part of the management team at BK Technologies for the past 26 years and I am proud of what the company has achieved during that time. BK is at an exciting point in its development improved product offering and a strong track record, and I look forward to ensuring a smooth transition to my successor and then following the company’s continued success. “

About BK Technologies

BK Technologies Corporation manufactures high-specification, US-made communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. BK Technologies is honored to serve these heroes with dependable gear when every moment counts. The company’s common stock trades on the NYSE under the symbol “BKTI”. BK Technologies is headquartered in West Melbourne, Florida and can be contacted through its website at www.bktechnologies.com or directly at 1-800-821-2900.

Forward-Looking Statements

This press release contains certain forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the company’s business, economic performance and financial position and are based largely on the company’s beliefs and expectations. These statements involve known and unknown risks, uncertainties, and other factors that could cause actual results, performance or accomplishments of the company or industry results to differ materially from future results, performance or accomplishments expressed or implied in such forward-looking statements . These factors and risks, some of which have been exacerbated and exacerbated by the COVID-19 pandemic, include but are not limited to the following: changes or advances in technology; the success of our land mobile communications product line; successful introduction of new products and technologies, including our ability to successfully develop and sell our anticipated new multiband product and other related products in the planned new BKR series product line; Competition in the land mobile communications industry; general economic and business conditions, including federal, state and local government budget deficits and spending restrictions, any implications of an extended U.S. government shutdown, and the ongoing effects of the COVID-19 pandemic; Availability, conditions and use of capital; Dependence on contract manufacturers and suppliers; Risks associated with fixed price contracts; heavy reliance on US government sales and our ability to comply with the requirements of contracts, laws and regulations relating to such sales; Government assignments among multiple approved suppliers under existing agreements; our ability to comply with US tax laws and take advantage of deferred tax assets; our ability to attract and retain managers, skilled workers and key personnel; our ability to manage our growth; our ability to identify and finalize potential candidates for acquisition, disposal or investment transactions and risks incumbent on a non-controlling shareholder in a company; Effects of the COVID-19 pandemic on the companies in which the company has interests; Impact of our capital allocation strategy; Risks related to maintaining our brand and reputation; Effects of government regulation; rising health care costs; our business with manufacturers in other countries, including changes in US and foreign government trade and customs policies, as well as any other implications arising from the COVID-19 pandemic; our inventories and debt levels; Protecting our intellectual property rights; Fluctuations in our operating results and the share price; Acts of war or terrorism, natural disasters and other catastrophic events such as the COVID-19 pandemic; any claims for infringement; Data breaches, cyberattacks and other factors affecting our technology systems; Availability of adequate insurance coverage; Maintaining our listing on the NYSE in America; Risks associated with a holding company; and the impact on our share price and ability to raise equity in future sales of shares in our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are more fully set forth in the company’s annual report on Form 10-K for the year ended December 31, 2020 and in the company’s subsequent filings with the SEC. These forward-looking statements speak as of the date of this press release and the company assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Company contact:

IMS Investor Relations
John Nesbett / Jennifer Belodeau
[email protected]
(203) 972-9200

SOURCE: BK Technologies Corporation

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