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POC achieves record 2019 revenue growth and announces executive changes

November 26, 2019 GMT
Physical Optics Corporation Logo (PRNewsfoto/Physical Optics Corporation)
Physical Optics Corporation Logo (PRNewsfoto/Physical Optics Corporation)

TORRANCE, Calif., Nov. 26, 2019 /PRNewswire/ -- Physical Optics Corporation (POC) announces the restructuring of the leadership team in order to better align POC for continued success and expansion. Restructuring new and existing roles within the leadership team will allow POC to maximize leadership opportunities as well as provide a continuity of succession that will nurture the established strategic and growth goals of the company. POC will hit a new revenue milestone by exceeding $113M in 2019 revenue. The company’s projected growth and expansion necessitated executive changes and facility expansion in the Torrance, CA area. Recent production contracts received by the company has fueled the need for executive and facility changes. POC supports military and defense with innovative products and technology. Along with POC’s recognized technological competencies such as data storage and transfer, mission computing, Electronic Warfare, and encryption, the restructuring of the leadership team will greatly enhance the ability for POC to successfully expand into several other technological and business focused areas in the near future.

In preparation of future growth, the company made the following management changes:

Joanna Jannson, Ph.D. and co-founder of POC is now the Chairman of the Board and the Chief Value Officer. She will continue to support POC, while focusing on technological innovation and advancement.

Kevin Walter, Ph.D. assumes the role of President and Chief Executive Officer. He is only the second CEO in POC’s 34-year history.

Rick Shie, MBA assumes the role of Vice Chairman of the Board and will continue as POC’s Chief Strategic Officer.

Gajendra Savant, Ph.D. (Chief Operating Officer) and Andrew Kostrzewski, Ph.D. (Chief Technology Officer & Chief Engineer) are promoted to Senior Executive Vice Presidents and together form the Executive Business and Technology Committee to the Board of Directors.

Robert Waldo, Ph.D. is promoted to Senior Vice President of Business Development and Chief Business Development Officer.

Keith Baker, MBA is promoted to Senior Vice President of Administrative Operations and Chief Administrative Officer.

About Physical Optics Corporation

Physical Optics Corporation (POC) ( www.poc.com - Torrance, California), is a rapidly growing systems integrator of advanced technology, serving military and defense, homeland security, and selected commercial markets. Since its founding in 1985, POC has grown to more than $113M in revenue, with over 270 employees, including 30 Ph.D.’s and 112 engineers. POC is a highly innovative, employee-owned company and is located in Torrance, California. The company currently holds over 160 issued patents worldwide, covering 60 technologies. As POC moves forward, it will continue its work in innovative research and development, focusing on several strategic thrust areas and advanced programs.

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SOURCE Physical Optics Corporation