Frequency Electronics Inc. has announced a significant leadership change with the appointment of Allen Kaplan as Chief Financial Officer (CFO), effective November 1, 2026. This decision comes as Steven L. Bernstein, the current CFO, prepares to retire after 16 years of service. The transition is expected to bring fresh perspectives to the company's financial strategies and operations, which is crucial for its ongoing growth.
Kaplan joins Frequency Electronics from Leidos, where he served as Vice President of Finance and Business Operations for the Defense Sector. His extensive experience in financial strategy and program management positions him well to lead the company's financial direction. President and CEO Tom McClelland expressed confidence in Kaplan's abilities, stating, "He brings over 21 years of experience leading financial and accounting teams in our industry, and we are excited to work with him as our CFO."
Background
Frequency Electronics Inc. operates in the Instruments for Measuring and Testing of Electricity and Electric Signals sector, as classified under SIC 3825. The company trades on the Nasdaq under the ticker symbol FEIM. Frequency Electronics focuses on developing advanced technology solutions for various applications, particularly in the defense and telecommunications sectors. The company has been active in filing various reports, including its most recent 8-K on October 21, 2026, which details this leadership change.
What the Filing Says
The SEC filing reveals that Kaplan's annual base salary will be $280,000, along with a performance bonus and equity awards. Bernstein's retirement will coincide with Kaplan's start date, and the company plans to engage Bernstein in a consulting role to ensure a smooth transition. The filing states, "In order to support a smooth transition of leadership, the Company plans to enter into a one-year consulting agreement with Mr. Bernstein." Kaplan's extensive background in finance at Leidos and Lockheed Martin adds to his qualifications for the role.
Impact
This leadership transition may impact various stakeholders, including employees, investors, and customers. Employees may benefit from Kaplan's experience in financial management, potentially leading to improved operational efficiencies. Investors will be watching closely to see how this change affects the company's financial performance and strategic direction. Customers in the defense and telecommunications sectors may also see a shift in how the company approaches its financial strategies and project funding.
What's Next
The filing does not specify what happens next beyond the transition of CFO roles. However, the company has reaffirmed its fiscal year 2029 financial targets, indicating a commitment to maintaining its strategic goals amid this change in leadership.