Traub, a graduate of Harvard Business School, has more than 20 years’ experience as a CEO, director and investor in public and private companies.
Traub was also founder of computer software company Voxware and ran American Bank Note Holographics before becoming president and CEO of Ethos Management.
"I believe the company has some very valuable technology, a strong customer base, a world class engineering team that develops some of the best technology for our customers and a strong financial foundation. I believe these components will allow us to serve our customers in the best capacity available in the market," he said.
The company, whose CEO Steve Barber stepped down last April, said it would shut down core business units after reporting a decline in second quarter profits and revenues.
