On August 28, 2020, Cubic Corporation announced that, effective immediately, the Company is consolidating its defense business segments by merging the Cubic Mission Solutions segment with the Cubic Global Defense segment to form the new Cubic Mission and Performance Solutions segment. As a result of this realignment, the Company’s two business segments are Cubic Transportation Systems and Cubic Mission and Performance Solutions and, commencing in the first quarter of the Company’s fiscal year ending September 30, 2021, the Company will report its financial results under these realigned business segments. CMPS will be led by Michael Knowles, Senior Vice President of the Company and President of CGD. Knowles was promoted into the role of CGD president after having successfully served as vice president and general manager of CGD’s Air Ranges business since joining Cubic in 2014. Prior to joining Cubic, he held executive and senior leadership roles with Rockwell Collins and Lockheed Martin. In connection with such consolidation, Michael R. Twyman, Senior Vice President of the Company and President of CMS, will be departing the Company.