Communications Systems CEO Berg to Retire in May
Communications Systems, Inc., (CSI) said Monday that its CEO and president will retire in May.
Jeffrey Berg's last day will be May 19, the same day as the company's annual shareholder meeting.
Berg will be succeeded by William Schultz, who now serves as CSI's executive vice president of operations. Berg will, however, continue to serve on CSI's board and provide consulting services to the company following his retirement.
CSI said that the changes are part of a planned succession.
Berg joined CSI more than two decades ago. Seven years ago, he became chief operating officer-and he has spent the past four years as CEO.
Curtis Sampson, chairman of CSI's board, said that the board is grateful for Berg's service, particularly his time as CEO-a period during which “the company surmounted many challenges and during which our management team has been significantly strengthened.”
Schultz has been CSI's executive vice president of operations since May 2010. He joined the company in 2000 as a product manager in its Transition Networks subsidiary-and spent the nine years prior to that at AMP, a division of Switzerland-based Tyco International, Ltd.
Schultz quickly worked his way up the ladder at CSI. He became marketing director of Transition Networks in 2001 and vice president of marketing in 2002. In October 2007, Schultz became vice president and general manager of the subsidiary, a position he held until February 2011. During the three-and-a-half years that Schultz led Transition Networks, its revenues grew 28 percent and its operating income increased 250 percent, according to CSI.
CSI provides physical connectivity infrastructure and services for broadband solutions. It also supplies voice-grade connecting devices and wiring systems.
CSI is among Minnesota's 75-largest public companies based on revenue, which totaled $120 million in 2010-up 9.4 percent from 2009.