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SAN DIEGO – Franklin Wireless Corp. (NASDAQ:FKWL), a manufacturer of telecommunications equipment with a market capitalization of $79 million, announced the appointment of Ira Greenstein to its Board of Directors, effective Monday. This move followed the resignation of Mr. Gary Nelson from the board on the same day. The company’s stock has shown remarkable momentum, delivering a 143% return over the past year and trading near its 52-week high of $7.30.InvestingPro analysis reveals 13 additional investment insights about Franklin Wireless’s performance and potential.
Ira Greenstein brings a wealth of experience to Franklin Wireless. He is a Founding Partner at the law firm Pierson Ferdinand LLP and has previously served as Deputy Assistant and Strategist to President Trump during the first administration. His corporate background includes roles as President of IDT Corporation and Genie Energy (NYSE:GNE) Ltd. Mr. Greenstein’s academic credentials include a Bachelor of Science from Cornell University and a Juris Doctor from Columbia University School of Law. Additionally, he serves on the board of Forafric Global plc. (NASDAQ:AFRI), contributing to the Audit and Remuneration Committees.
The announcement comes as part of a current report filing with the Securities and Exchange Commission. Franklin Wireless, headquartered in San Diego, California, specializes in the design and development of wireless communications devices and solutions. The company’s product line includes mobile hotspots, modems, and routers that enable reliable and high-speed internet access on the go.
The change in the company’s board composition is a significant development for Franklin Wireless as it continues to navigate the competitive and rapidly evolving telecom industry. The appointment of Greenstein is expected to provide the company with additional expertise in legal and strategic areas, potentially influencing its corporate governance and strategic direction.
This corporate governance update is based on information provided by Franklin Wireless Corp. in a recent SEC filing.
In other recent news, Franklin Wireless Corp. has announced significant changes within its executive team. Bill Bauer has stepped down as the Chief Financial Officer, a role he held prior to January 1, 2025. Bauer will remain with the company as General Counsel and Director of Strategic Planning, positions he has occupied since January 2020. The Board of Directors has appointed Reid Granados as the Interim Chief Financial Officer. Granados brings over two decades of experience in finance and executive management, with prior leadership roles at Ryvyl and ChargeSavvy. Franklin Wireless has not provided additional details regarding the search for a permanent CFO. This update was disclosed in a press release filed with the Securities and Exchange Commission, ensuring transparency for stakeholders. The company continues to operate from its San Diego headquarters.
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