xG Technology, Inc. (XGT.L) said it appointed John Coleman as chief executive officer, or CEO, effective today.
According to the company, the appointment follows the Board of Directors' recent vote to separate the responsibilities of CEO and chairman. The company said no change were made to its Board of Directors.
Coleman succeeds Rick Mooers, who served as CEO and chairman of the Board of Directors since September 2005. Mooers will remain as executive chairman of the Board of xG Technology.
Coleman served as a member of xG's Advisory Board since March 2010 with the mission to explore additional applications for the company's underlying technologies in the Defense and Public Safety vertical markets and was appointed as the company's chief operating officer in June 2010.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org