Integral Critic Could Join Company’s Board
PARIS — Satellite ground system provider Integral Systems announced Jan. 8 it will ask its shareholders to elect the company’s most stinging outside financial analyst to Integral’s board of directors.
Columbia, Md.-based Integral said its current board has approved the appointment of Bonnie K. Wachtel, currently a principal of boutique investment firm Wachtel & Co. Inc. of Washington.
Wachtel has been one of Integral’s harshest critics in the past two years as the company has gone through two management changes and missed its own revenue and profit targets. Her comments during Integral’s quarterly conference calls on the company’s financial management and its board of directors have been occasionally withering.
Integral’s current management team was put into place in mid-2009.
Wachtel served on Integral’s board previously, but left in 2006. Integral shareholders are scheduled to meet Feb. 17 to vote on the nomination. Integral Board Chairman Jack Albertine said the company will “look forward to her valuable contribution to the growth of the business.