Sierra Wireless Provides Further Update on Proposed Board Composition and 2020 Management Information Circular
May 06 2020 - 7:08PM
Business Wire
Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the leading IoT
solutions provider that combines devices, network services and
software to unlock value in the connected economy, today provided a
further update on the proposed Board composition and 2020
Management Information Circular (the “Circular”). As set forth in
the Circular dated April 20, 2020, in connection with the Company’s
upcoming Annual and Special Meeting of Shareholders (the Meeting”),
the Company has recommended to shareholders that they consider and,
if deemed appropriate, pass a special resolution authorizing the
Company to amend its articles to increase the maximum number of
directors of the Company from nine to twelve (the “Board Expansion
Resolution”). See “Business of the Meeting - Amendment of Articles”
in the Circular.
The Company advised in the Circular that, subject to the
approval of the Board Expansion Resolution, the Board of Directors
of the Company would appoint three additional independent
directors. As set out in the Company’s press release dated May 4,
2020, certain updates were made regarding the anticipated
appointees.
The Company would now like to update the Circular disclosure by
announcing that, in the event that the Board Expansion Resolution
is passed at the Meeting, Thomas K. Linton will join the Company’s
Board of Directors along with Martin McCourt and Mark
Twaalfhoven.
Mr. Linton is a recognized expert in procurement and supply
chain management, most recently serving as the chief procurement
and supply chain officer for Flex. He was honored with the
Institute of Supply Management’s prestigious J. Shipman Gold Medal
in 2019, and the Lifetime Achievement Award from the Procurement
Leaders Organization in 2017, and he was inducted into the Chief
Procurement Officers Hall of Fame. Mr. Linton spent 20 years at
IBM, developing and founding several worldwide trading and
technical centers. After leaving IBM, Mr. Linton helped found
E2Open, Inc., a supply chain software company. He has served as
chief procurement officer at Agere Systems and Freescale
Semiconductor, and as executive vice president and chief
procurement officer at LG Electronics. He has served on the World
Economic Forum’s Global Future Council on Mobility and currently
serves as an advisory board member for a number of institutions of
higher learning, including the MIT Center for Transportation and
Logistics, as well as on several boards in the electronics hardware
supply chain.
About Sierra Wireless
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is the leading IoT
solutions provider that combines devices, network services and
software to unlock value in the connected economy. Companies
globally are adopting IoT to improve operational efficiency, create
better customer experiences, improve their business models and
create new revenue streams. Whether it is an integrated solution to
help a business securely connect edge devices to the cloud, or a
software/API service to help manage processes associated with
billions of connected assets, or a platform to extract real-time
data to make the best business decisions, Sierra Wireless will work
with you to develop the right industry-specific solution for your
next IoT endeavor. Sierra Wireless has more than 1,300 employees
globally and operates R&D centers in North America, Europe and
Asia. For more information, visit www.sierrawireless.com.
Connect with Sierra Wireless on the IoT Blog at
http://www.sierrawireless.com/iot-blog, on Twitter at
@SierraWireless, on LinkedIn at
http://www.linkedin.com/company/sierra-wireless and on YouTube at
http://www.youtube.com/SierraWireless.
“Sierra Wireless” is a registered trademark of Sierra Wireless.
Other product or service names mentioned herein may be the
trademarks of their respective owners.
Forward Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. These forward-looking statements
relate to, among other things, anticipated board composition, plans
and timing for the introduction or enhancement of our services and
products, statements about future market conditions, supply
conditions, channel and end customer demand conditions, revenues,
gross margins, operating expenses, profits, and other expectations,
intentions, and plans contained in this press release that are not
historical fact. Our expectations regarding future revenues and
earnings depend in part upon our ability to successfully develop,
manufacture, and supply products that we do not produce today and
that meet defined specifications. When used in this press release,
the words "plan", "expect", "believe", and similar expressions
generally identify forward-looking statements. These statements
reflect our current expectations. They are subject to a number of
risks and uncertainties, including, but not limited to, changes in
technology and changes in the wireless data communications market.
In light of the many risks and uncertainties surrounding the
wireless data communications market, you should understand that we
cannot assure you that the forward-looking statements contained in
this press release will be realized.
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version on businesswire.com: https://www.businesswire.com/news/home/20200506006140/en/
Media: Kim Homeniuk +1 (604) 233 8028
pr@sierrawireless.com Investors: David Climie +1 (604) 231
1137 dclimie@sierrawireless.com
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