Frequency Electronics Announces Chief Financial Officer Transition; Reaffirms Fiscal 2029 Financial Targets
Key Highlights
- ➤Allen Kaplan becomes Frequency Electronics CFO effective November 1, 2026
- ➤Steven L. Bernstein retires as CFO effective November 1, 2026
- ➤Frequency Electronics reaffirms minimum fiscal 2029 revenue target of $150 million
- ➤Frequency Electronics reaffirms minimum fiscal 2029 gross margin target of 50%
- ➤Frequency Electronics reaffirms minimum fiscal 2029 operating margin target of 30%
Expert Statements
Tom McClelland, President and CEO of Frequency Electronics, Inc.
“I am pleased to welcome Allen to FEI in this very important role - 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.”
Tom McClelland, President and CEO of Frequency Electronics, Inc.
“I also want to thank Steven L. Bernstein for his dedicated service to the Company over the last 16 years and wish him all the best in his well-deserved retirement.”
MITCHEL FIELD, N.Y., Oct. 21, 2026 (GLOBE NEWSWIRE) -- Today, Frequency Electronics, Inc. (Nasdaq: FEIM) (“FEI” or the “Company”) announced the election of Allen Kaplan as its new Chief Financial Officer (CFO), effective November 1, 2026. As CFO, Mr. Kaplan will join the Company’s senior executive leadership team and will report directly to President and Chief Executive Officer (CEO) Tom McClelland.
Mr. Kaplan joins FEI following a distinguished career at Leidos Defense Sector, where, as Vice President of Finance and Business Operations, he most recently led financial strategy, pricing, capital investment and program financial performance for a large portfolio of defense programs. These manufacturing programs spanned the full life cycle from prototype through full-rate production. He succeeds Steven L. Bernstein, who will retire effective November 1, 2026.
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