The company noted "Zable had guided Cubic since he founded the company in 1951, leading it to global prominence in providing defense systems, mission support services, and transportation systems and services to customers worldwide. "
Cubic's Board of Directors has named William W. Boyle as interim President and CEO, in addition to his current role as Chief Financial Officer. Walter C. Zable has been named chairman of the Board. Both men have served as senior executive officers and directors of the company for many years.
"Walter J. Zable has been a wonderful inspiration to Cubic Corp. and its family of companies and its more than 7,800 employees. He was also a generous and caring person who did a great deal for the community. He will be missed, but we remain resolved to maintain and expand Cubic's global presence as a tribute to our remarkable founder," said Boyle in a statement.