Cubic Corp. announced a succession plan and additional contract wins as the calendar turned from April to May.
The business announced May 1 that Bradley Feldmann will take over for CEO Bill Boyle, effective July 1. Feldmann, 52, most recently served as president and chief operating officer of Cubic (NYSE: CUB). Cubic’s board of directors also gave Feldmann a seat on the board, effective immediately.
Boyle took over the CEO job — initially in an interim capacity — in June 2012 following the death of company founder and CEO Walter J. Zable. After July 1, Boyle will remain at the company as an adviser to Feldmann.
San Diego-based Cubic does most of its business as a defense contractor. It also produces fare collection equipment for mass-transit systems.
The business said on May 1 that it received a $3.4 million follow-on deal to provide personnel locator systems to the U.S. military. Cubic received a task order under an indefinite delivery indefinite quantity contract.
On April 30, Cubic said it added $4.2 million to a training contract for an unnamed customer in the Middle East. The deal will add sniper, mortar and close air support training to its Engagement Skills Trainer, an immersive platform for war games. The customer currently uses the system for marksmanship and small arms training.