San Diego-based RF Industries Ltd. said on Oct. 6 that it appointed Johnny Carl Walker as its president.
Walker spent the last 15 years as CEO and CFO of Hutton Communications, a wireless communications equipment distributor.
Howard Hill, CEO of RF Industries (Nasdaq: RFIL), said Walker’s wireless experience — as well as his experience in manufacturing, mergers and acquisitions, and accounting — will serve the San Diego company well.
In a securities filing, RF Industries disclosed details of Walker’s employment agreement. The agreement calls for the new president to make $250,000 a year in salary. Walker will be entitled to a year-end bonus of 50 percent of his base salary. RF industries also granted Walker an option to purchase up to 100,000 shares of RF Industries common stock, with 10,000 shares vesting now and another 10,000 shares vesting on his first nine anniversaries with the company. Walker will be able to buy stock for its closing price on the date the option vests.
RF Industries makes interconnect products and cable assemblies for several markets including wireless carriers. Hutton is one of RF Industries’ distributors.