CUB - Cubic Announces Departure of Cubic Transportation Systems President Matt Cole; Names Laurent Eskenazi as Acting President of Business Segment

Cubic Corporation (NYSE:CUB) today announced that Matt Cole, senior vice president and president of Cubic Transportation Systems (CTS), will leave the company at the end of January to pursue a leadership opportunity in a non-competing industry. Laurent Eskenazi, who is currently the senior vice president and managing director of CTS EMEA, will serve as the interim president of CTS effective January 13, until a permanent successor is named. Cubic has initiated an internal and external process of recruiting for Cole’s replacement and has retained Dinte Global Executive Search to support the recruitment process.

“Over his 17-year career with Cubic, Matt has made significant contributions to our company, most recently in operationalizing and growing our transportation business, advancing our NextCity^TM vision and executing strategic priorities, particularly related to mobile and Intelligent Transport Systems. On behalf of Cubic and the Board of Directors, we thank him for his leadership and service to Cubic and wish him well in his future endeavors,” said Bradley H. Feldmann, chairman, president and chief executive officer of Cubic Corporation. “During this time of transition, Laurent brings extensive strategic and operational experience in ticketing and revenue collection globally and we are confident in his ability to serve in this interim role.”

In his role as senior vice president and managing director of CTS EMEA, Eskenazi managed Cubic’s transportation operations in the U.K., Germany and Sweden, which is the second largest combined market for CTS. Prior to joining Cubic, Eskenazi was an executive for French transport and technology company, Thales, responsible for all business operations of the Revenue Collection Systems business across nine countries. Eskenazi holds a doctorate in Electrical Engineering and master’s degree in Communications and Signal Processing from the University of Florida as well as an engineering degree from Telecom Sud Paris.

About Cubic Corporation

Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness. Our teams innovate to make a positive difference in people’s lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit www.cubic.com or on Twitter @CubicCorp.

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