George Schmitt has retired from xG Technology Inc.
SARASOTA — Gary Cuccio has been named interim CEO of Sarasota-based wireless video and communications company xG Technology Inc. in the wake of George Schmitt’s retirement. Schmitt had been CEO and executive chairman.
Cuccio is on the board at xG Technology, with a client list that includes law enforcement and defense agencies, as well as private mobile broadband networks. Cuccio will also fill the role of executive chairman of the board.
“Having successfully overseen the acquisition of IMT and Vislink, and their integration into xG Technology’s operations, I have decided that it is now appropriate to transition the leadership of the company during its next phase of growth,” Schmitt states in a press release announcing his departure. “It has been a privilege to lead the dedicated employees of all our businesses, and I want to thank them all for their hard work in successfully unifying our companies.”
According to the release, xG Technology’s board of directors is already in discussions with potential candidates for the permanent CEO role, and has initiated a formal search for a new permanent CEO.
“On behalf of the board and all xG Technology employees, I want to thank George Schmitt for his years of dedication and service to the company,” Cuccio states in the release. “We are grateful for his efforts to transition the company to its new focus on comprehensive video, broadband and satellite solutions for broadcast, sports and entertainment, and public safety markets."