Inseego Corp. To Add Investment Veteran Jeffrey Tuder to Board of Directors
May 30 2017 - 6:00AM
Business Wire
The Board of Directors of Inseego Corp. (NASD: INSG) today
announced that effective on the date following the 2017 Annual
Meeting of Stockholders, the size of the Board will be increased to
six directors and Jeffrey M. Tuder will be appointed as an
independent director of the company. Assuming the Annual Meeting
takes place on June 14 as scheduled, Mr. Tuder’s appointment will
become effective on June 15, 2017. Mr. Tuder is a veteran private
equity and public securities investor with over 20 years’
investment experience, having worked closely with executive
management teams and board members of both public and private
companies to define and achieve strategic objectives and to protect
and enhance shareholder value.
Mr. Tuder’s public equity and hedge fund experience includes
leadership roles at JHL Capital Group, KSA MidOcean, and Tremson
Capital Management. His private equity and fixed income experience
includes positions at Fortress Investment Group, Nassau Capital
(Princeton University's Endowment), ABS Capital Partners, and
CapitalSource Finance.
“I look forward to joining Inseego's Board to assist the Company
in streamlining its operating structure and realizing the full
value of its unique portfolio of assets. In my view, these assets
contain a tremendous amount of value and optionality that is being
underappreciated by investors. In particular, Inseego's Ctrack
brand continues to have leading positions in a number of valuable
and growing end markets that should serve as a platform for future
growth and substantial value creation,” said Mr. Tuder.
“The Inseego Board and management team welcomes Jeff to our
Board. His extensive investment and restructuring experience and
industry knowledge will be invaluable to us as we effect the change
necessary to establish the Company as a leading SaaS and solutions
provider for the Internet of Things,” added Bob Pons, lead
independent director of Inseego.
Mr. Tuder currently serves as an Independent Director and
Chairman of the Audit Committee for MRV Communications (NASD:
MRVC), a publicly-traded telecommunications network equipment
provider, and he serves on the Board of Advisors of Clique
(www.cliqueapi.com), a privately held voice communications
solutions provider. He is a graduate of Yale University where he
obtained a B.A. in English Literature.
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) is a leading global provider of
software-as-a-service (SaaS) and solutions for the Internet of
Things (IoT). The Company sells its telematics solutions under the
Ctrack brand, including its fleet management, asset tracking and
monitoring, stolen vehicle recovery, and usage-based insurance
platforms. Inseego Corp. also sells business connectivity solutions
and device management services through Novatel Wireless, Inc. and
Feeney Wireless (FW). Inseego Corp. has over 30 years of experience
providing customers with secure and insightful solutions and
analytics, with approximately 633,000 global subscribers, including
189,000 fleet management subscribers. The Company is headquartered
in San Diego, California. www.inseego.com Twitter @inseego
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute
forward-looking statements. These forward-looking statements relate
to a variety of matters, including, without limitation, statements
regarding Mr. Tuder’s future appointment to the Board and
continuing to establish the company as a leading SaaS sand
solutions provider for the Internet of Things. These
forward-looking statements are made on the basis of the current
beliefs, expectations and assumptions of the management of the
Company and are subject to significant risks and uncertainty.
Investors are cautioned not to place undue reliance on any such
forward-looking statements. All such forward-looking statements
speak only as of the date they are made, and the Company undertakes
no obligation to update or revise these statements, whether as a
result of new information, future events or otherwise, except as
may be required by law. These forward-looking statements involve
many risks and uncertainties that may cause actual results to
differ materially from what may be expressed or implied in these
forward-looking statements. Such risks include risks related to
attracting and retaining key employees, risks related to the
Company’s financial condition, and risks related to the
introduction and customer acceptance of new products and services.
For a further discussion of risks and uncertainties that could
cause actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to the
business of Inseego Corp. in general, see the risk disclosures in
our Annual Report on Form 10-K for the year ended December 31,
2016, and in other subsequent filings made with the SEC by Inseego
Corp. (available at www.sec.gov).
Source: Inseego Corp.
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version on businesswire.com: http://www.businesswire.com/news/home/20170530005449/en/
Inseego Corp.Media Relations Contact:Diana
Hoogbruin, (858) 812-8046diana.hoogbruin@inseego.comorInvestor
Relations Contact:Michael Sklansky, (858)
431-0792michael.sklansky@inseego.com
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