Comverse changes Verint's board

The majority owner of Melville-based Verint Systems Inc. said Monday it has taken new steps to streamline its corporate structure as it moves closer to splitting itself into two companies.

Comverse Technology Inc., or CTI, is owner of 53 percent of the outstanding shares of Verint, whose software allows businesses and government agencies to sift through vast amounts of data from telephone calls and surveillance cameras and provide insight on potential problems.

CTI said Monday it changed the makeup of Verint's board of directors.

Three CTI executives who had been on the Verint board have resigned and were replaced by members of the parent company's board of directors.

None of the resignations "was the result of any disagreement with Verint or its operations, policies, or practices," Verint said in a filing with the Securities and Exchange Commission.

CTI is now structured as a holding company. Its other major component, other than Verint, is a wholly owned subsidiary, Comverse Inc. -- which is expected to be spun off later this year into a stand-alone, publicly traded enterprise. In that spinoff, CTI said, its shareholders will receive distributions of the new company's stock.

Comverse Inc. makes software for telecom service providers, enabling them to merge billing and customer management operations.

CTI, based in Manhattan, has made major steps in emerging from a years-long scandal centered on alleged options backdating by a former chief executive, Jacob "Kobi" Alexander. It has a total of 5,900 employees, 3,100 of whom work for Verint.