– USA, CA – Novatel Wireless (NASDAQ:MIFI), a leading provider of solutions for the Internet of Things (IoT) and inventors of MiFi® technology, announced today that the Board of Directors has appointed its current Chair, Sue Swenson, to serve as Chief Executive Officer of the Company. Ms. Swenson replaces Alex Mashinsky, whose employment with the Company was terminated on October 27, 2015. Mr. Mashinsky is also required to resign from the Company’s Board of Directors pursuant to the terms of his employment agreement with the Company.
“I am very excited for the opportunity to guide Novatel Wireless as we emerge from a period of transition and focus our sights on global IoT opportunities and driving shareholder value,” stated Ms. Swenson. “I am confident we have the people, assets and operational alignment necessary to achieve growth with our higher margin software and SaaS offerings, including the fleet and vehicle telematics offerings from our recently acquired DigiCore operations and its 325,000 Ctrack™ subscribers.”
“Working closely with management over the past three years to dramatically reposition Novatel Wireless as a leading player in IoT has been a challenging but very fruitful experience,” added Ms. Swenson. “I am thrilled for the opportunity to become the Company’s operational leader and, as CEO, to focus all of my time and energy on furthering our evolution from hardware-only sales to end-to-end IoT solutions and recurring SaaS revenues.”
Ms. Swenson brings decades of leadership experience and operational expertise in the wireless technologies industry. She was president and COO of PacTel Cellular, which later became part of AirTouch Cellular. She served as CEO and president of Cellular One and as president of Leap Wireless before landing at T-Mobile USA where she was COO until moving to MVNO startup Amp’d Mobile. Most recently she served as CEO of Sage, North America, a software firm. Swenson also sits on a number of boards including those of Harmonic, Spirent Plc, and Wells Fargo. Ms. Swenson is chair of FirstNet has been a member of Novatel Wireless’s Board of Directors since 2012 and has been chair of the Board since 2014.
ABOUT NOVATEL WIRELESS
Novatel Wireless, Inc. (Nasdaq:MIFI) is a leader in the design and development of M2M wireless solutions based on 3G and 4G technologies. The Company delivers Internet of Things (IoT) and Cloud SaaS services to carriers, distributors, retailers, OEMs and vertical markets worldwide. Product lines include MiFi® mobile hotspots, USB modems, embedded modules, mobile tracking solutions and asset tracking solutions. These innovative products provide anywhere, anytime communications solutions for consumers and enterprises. Novatel Wireless is headquartered in San Diego, California.
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