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Communications Systems, Inc. Announces Retirement of Curtis Sampson as Chairman of the Board
Posted by Pineapple on December 13th, 2018
Communications Systems, Inc. (NASDAQ: JCS) (“CSI” or the “Company”), a global provider of connectivity infrastructure and services for deployments of broadband networks, today announced that Curtis A. (“Curt”) Sampson has retired as the Company’s Chairman of the Board, but that he will continue as a member of the Board with the title, “Chairman Emeritus.” Mr. Sampson founded CSI in 1969, took the Company public in 1981, and then led it to become a national force in telecommunications components and systems. Under Curt Sampson’s leadership, CSI also spun off two other public companies operating cable television systems and rural telephone companies. Mr. Sampson is very well known in the local business community, where he has been a powerful entrepreneurial force in many successful ventures over the years. In 2012, he was inducted into the “Minnesota Business Hall of Fame.” In his new capacity as Chairman Emeritus, Mr. Sampson’s advice and good counsel will continue to be available to the Board. The other members of the CSI Board and all of CSI’s employees wish to thank him for his leadership and service for almost 50 years and look forward to his continuing contributions.
The Company also announced today that Roger Lacey, CSI’s Chief Executive Officer and Vice Chairman, has been named as the Executive Chairman of the CSI Board of Directors. Mr. Lacey will continue to serve as CEO of CSI, but the Company anticipates that in 2019 a new CEO will be appointed to lead CSI. The Company also announced that, in connection with the changes in the Chairman position, Randall D. Sampson, Curt Sampson’s son and CEO of Canterbury Park Holding Corporation (NASDAQ: CPHC), has been named as the Company’s Governance Lead Independent Director. Randall Sampson has been a CSI director since 1999, and currently serves as Chair of the Board’s Audit & Finance Committee.