Com Dev International Ltd. announced Tuesday that it is searching for a new CEO following a company decision to replace John Keating.

The company said Keating will be stepping down immediately as CEO and director and that the board has appointed Mike Pley as interim CEO.

Satellite technology maker Com Dev is based in Cambridge, Ont., where it employs 1,100 people and has facilities in the U.S. and U.K. 

"The Company is moving on to the next phase of development in its business plan with a renewed focus on profitability and the Board of Directors was of the view a new vision was required at this time,” Com Dev chairman Terry Reidel said in a statement. 

Contact Ryan O'Neill at 613-232-5952 ext. 222 or roneill@thewirereport.ca
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