Appoints Alex Mashinsky as Interim Chief Executive Officer;
Initiates Search for Permanent Chief Executive Officer;
Souissi Appointed President and COO
SAN DIEGO--(BUSINESS WIRE)--
Novatel Wireless, Inc. (NASDAQ: NVTL), a leading provider of intelligent
wireless solutions, announced that the Board of Directors has appointed
Alex Mashinsky Interim Chief Executive Officer, replacing Peter Leparulo
who will continue to serve on the Board of Directors. Mr. Mashinsky was
appointed to the Company's Board of Directors in April 2014. The Board
is engaging an executive search firm to evaluate candidates for a
permanent Chief Executive Officer. The Board also promoted Slim Souissi,
CTO of Novatel Wireless, to President and Chief Operating Officer.
"We are pleased that Alex Mashinsky has taken on the role of Interim CEO
as we begin a search for a permanent replacement," said Sue Swenson,
Chairman of the Board of Novatel Wireless. "We want to thank Peter
Leparulo for his many years of service at Novatel Wireless."
"Novatel Wireless has a strong technological leadership position and a
strengthening presence in the rapidly growing M2M market," added Alex
Mashinsky, interim Chief Executive Officer of Novatel Wireless. "We will
build on these strengths in this new chapter in Novatel Wireless'
Alex Mashinsky, 48, has served since 2004 as Managing Partner of
Governing Dynamics, an early stage investment and development company.
Prior to that, Mr. Mashinsky was founder and CEO of GroundLink and has
also founded and operated a number of companies in the information
technology sector, including Arbinet and Transit Wireless. Mr. Mashinsky
attended Tel Aviv University and Israel Open University.
"I want to thank all the employees for their hard work as we transformed
Novatel Wireless over the past ten years," said Peter Leparulo. "I have
had the privilege of working with extraordinary colleagues whose talent
and dedication have brought unparalleled innovation to our industry."
ABOUT NOVATEL WIRELESS
Novatel Wireless, Inc. is a leader in the design and development of
intelligent wireless solutions based on 2G, 3G and 4G technologies. The
Company delivers specialized wireless solutions to carriers,
distributors, retailers, OEMs and vertical markets worldwide. Product
lines include MiFi® Intelligent Mobile Hotspots, Ovation™ USB modems,
Expedite® embedded modules, Mobile Tracking Solutions, Asset Tracking
Solutions, and Enabler smart M2M modules. These innovative products
provide anywhere, anytime communications solutions for consumers and
enterprises. Headquartered in San Diego, California, Novatel Wireless is
listed on NASDAQ: NVTL. For more information please visit www.nvtl.com.
(C) 2014 Novatel Wireless, Inc. All rights reserved. The Novatel
Wireless name and logo are trademarks of Novatel Wireless, Inc.
The Blueshirt Group for Novatel Wireless
Source: Novatel Wireless, Inc.
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