TORONTO, April 24, 2020 /CNW/ - Internet of Things
Inc. (TSX VENTURE: ITT) (OTC: INOTF)
(FRANKFURT: 71T)
("ITT Inc." or the "Company"), a software and
solutions provider in the artificial intelligence and industrial
IoT markets, is pleased to announce that Michael Lende has been appointed as its
President & CEO and to its board of directors. Mr. Lende's top
priority will be to steward a renewed strategic course and
capitalize on the Company's unique technology and development
capabilities.
Michael Lende has more than 25
years of experience founding companies and leading them to
operational success. In 2006, he launched the ZipCar
car-share service in Canada,
growing the Toronto-area
membership from zero to over 42,000 and contributing to the parent
company's successful IPO in 2011. From 2012 to 2016, Mr. Lende was
Founder & CEO of start-up Student CarShare Inc. which
ultimately served more than 15,000 students nationwide along with
strategic partners Mastercard, CIBC & Kia Motors. He was the
Chief Marketing Officer of Dominion Sports & Entertainment and
Co-Founder of the Capitol Event Theatre and has been the lead
revenue consultant to numerous C-Suite executives.
"I am excited to be leading the talented and dynamic team at
Internet of Things," said Michael
Lende, incoming CEO. "Acting in a consulting role since
November, I have identified several new prospects in various
verticals where our machine learning-based products and proprietary
data-sets are much needed solutions. These scalable opportunities,
which are moving forward in real time, have presented themselves in
the insurance, logistics and fleet management industries in
addition to public safety. Our AI Labs Inc. R&D division is
developing an application for our patented sensor which will
address the COVID 19 crisis and will also serve society in a
post-COVID-19 environment. Moreover, our predictive AI technology
combined with our cutting-edge data analytics engine, will
fundamentally assist in pandemic crisis management. Current global
realities have sparked innovation at ITT, and our AI Labs will be
bringing forth novel real-world solutions in the very near
term."
"The Internet of Things board of directors is pleased to be
welcoming an executive of Michael
Lende's calibre as President & CEO and to our board of
directors," said Jim Grimes,
Executive Chairman of Internet of Things Inc. "Mr. Lende's
entrepreneurial mindset and track record of growing businesses are
a tremendous asset in defining the company's strategic vision, and
we have every confidence in his ability to create value for our
shareholders."
The Company would like to thank its previous CEO, Ron Shuttleworth, who stepped down as an officer
and director and former President & COO, James Sutcliffe who has also left ITT to pursue
other opportunities.
About Internet of Things Inc. (TSX VENTURE: ITT)
(OTC: INOTF) (FRANKFURT:
71T)
Internet of Things Inc. is a technology company that solves
complex challenges using advanced artificial intelligence, machine
learning and data science techniques. The Company collects and
interprets information from disparate sources to develop actionable
predictive and prescriptive applications which enable companies to
make better business decisions yielding greater results. Our
solutions are used by global automakers and U.S. government
institutions and can be applied to a wide range of industry
verticals, including insurance, logistics, fleet management,
agriculture, retail and public safety. Based in Toronto, Canada, the Company owns Weather
Telematics Inc. and has a joint venture channel partnership with
Shanghai New Hope Data Technology Co. Ltd.
Follow Internet of Things Inc. On:
Facebook:
https://www.facebook.com/InternetofThingsInc/
Twitter:
https://twitter.com/iotintl
LinkedIn:
https://www.linkedin.com/company/internet-of-things-inc-/
To learn more, visit: www.iotintl.com
Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not
historical facts, are forward-looking statements that involve risk,
uncertainties and other factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. All forward-looking statements included in this news
release are based on information available to the Company on the
date hereof. Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that could cause
actual results of the Company to differ materially from the
conclusion, forecast or projection stated in such forward-looking
statements. These risks, uncertainties and other factors include,
but are not limited to factors referenced in the Company's other
continuous disclosure filings, which are available
at sedar.com. Readers should not place undue reliance on these
forward-looking statements. The Company assumes no obligation to
update any forward-looking statements, except as required by
applicable securities laws.
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SOURCE Internet of Things Inc.
