Cubic (NYSE: CUB) has combined into a single business structure its mission solutions and global defense segments as part of a business realignment effort and appointed Mike Knowles, a senior vice president, as president of the newly formed Cubic Mission and Performance Solutions segment.
“This business realignment strengthens our ability to meet the ever-evolving needs of our global customers, enhances our operational agility and better positions Cubic to drive margin improvement and growth,” Bradley Feldmann, chairman, president and CEO of Cubic and a previous Wash100 awardee, said in a statement published Friday.
CMPS will continue to deliver technology platforms to customers in training and command, control, communication, computers, intelligence, surveillance and reconnaissance areas in support of their operational readiness efforts.
Knowles’ “military background in C4ISR systems coupled with a strong track record of more than 25 years of experience in military and commercial simulation and training make him ideally suited to head this combined defense business,” Feldmann said.
Knowles assumed the role of president of Cubic Global Defense in 2018 after serving as VP and general manager of CGD’s air ranges business. He held senior leadership positions at Lockheed Martin (NYSE: LMT) and Rockwell Collins, which now operates as Raytheon Technologies’ (NYSE: RTX) Collins Aerospace subsidiary.
Cubic will now operate with two business segments – CMPS and Cubic Transportation Systems – and will begin reporting financial results under the realigned segments in the first quarter of fiscal year 2021.