CEO is out at Orbit in Hauppauge

Dennis Sunshine's employment agreement as president and chief executive of Hauppauge-based Orbit International Corp. will not be renewed for next year, the company announced Wednesday.

Orbit, an electronics manufacturer and software solution provider, has elected not to renew Sunshine's employment agreement as of Dec. 31. Sunshine, who has headed the company since 1995, will resign from the company's board.

Calls to the company for comment were not returned immediately Wednesday.

Sunshine is the son-in-law of Orbit founder Max Reissman. Sunshine joined the company in 1976 and became a director in 1988. He became chief executive and president in March 1995 following Reissman's death.

Mitchell Binder, the executive vice president since 2006 and chief financial officer since 1983, will step in as acting chief executive.

David Goldman, treasurer since 2004, was named acting chief financial officer.

The company has had a string of recent positive announcements and said last month it had received a contract valued at more than $1 million from a global defense electronics contractor to manufacture intercommunication panels for the Navy.