Integral Chief Executive Resigns
WASHINGTON — John Higginbotham resigned Aug. 6 as president and chief executive officer of satellite ground system software provider Integral Systems Inc., the Lanham, Md.-based company announced.
The resignation comes just one year after Higginbotham took the reins at Integral and three days after the firm reported a third quarter operating loss of $3.9 million and warned that it would not meet its year-end revenue expectations. In an Aug. 3 conference call with analysts, Integral executives attributed the disappointing results to higher-than-expected expenses and the bankruptcy of satellite operator ProtoStar, which owes Integral $2.5 million.
Higginbotham, who arrived at Integral in July 2009 with the stated goal of turning around a company he said had suffered from accounting lapses and a lack of investment in its product lines, also resigned as a member of the company’s board of directors, Integral said.
Integral board member Paul Casner, former chief operating officer of DRS Technologies, will replace Higginbotham as interim chief executive, the company said.