Inseego Announces Chairman of the Board Transition
Inseego Corp. (NASDAQ: INSG) announced significant leadership changes as Phil Brace steps down as Executive Chairman to become CEO of Skyworks Solutions. Jeff Tuder, who has served on Inseego's board since 2017, has been appointed as independent Chairman effective immediately.
Under Brace's 15-month tenure, Inseego achieved several key milestones, including restructuring its capital structure to reduce debt and improve liquidity, divesting non-core international telematics business, and strengthening the management team. Notable among these changes was the recent appointment of Juho Sarvikas as CEO.
The company confirmed there are no changes to its previously announced Q4 2024 financial guidance, with results to be reported on February 19, 2025. The Board is actively seeking new directors with relevant industry and operating experience.
Inseego Corp. (NASDAQ: INSG) ha annunciato importanti cambiamenti nella leadership, con Phil Brace che si dimette da Presidente Esecutivo per diventare CEO di Skyworks Solutions. Jeff Tuder, che fa parte del consiglio di amministrazione di Inseego dal 2017, è stato nominato Presidente indipendente con effetto immediato.
Sotto la guida di Brace per 15 mesi, Inseego ha raggiunto diversi traguardi fondamentali, tra cui la ristrutturazione della sua struttura di capitale per ridurre il debito e migliorare la liquidità, la cessione della divisione telematica internazionale non core e il potenziamento del team di gestione. Tra questi cambiamenti, spicca la recente nomina di Juho Sarvikas come CEO.
La società ha confermato che non ci sono cambiamenti alle linee guida finanziarie per il Q4 2024 precedentemente annunciate, con i risultati che saranno comunicati il 19 febbraio 2025. Il consiglio sta attivamente cercando nuovi direttori con esperienza significativa nel settore e nelle operazioni.
Inseego Corp. (NASDAQ: INSG) anunció cambios significativos en el liderazgo, ya que Phil Brace renunció como Presidente Ejecutivo para convertirse en CEO de Skyworks Solutions. Jeff Tuder, quien ha formado parte de la junta de Inseego desde 2017, ha sido nombrado Presidente independiente con efecto inmediato.
Bajo el mandato de Brace de 15 meses, Inseego logró varios hitos clave, incluyendo la reestructuración de su capital para reducir la deuda y mejorar la liquidez, la venta de su negocio de telemática internacional no central y el fortalecimiento del equipo directivo. Destaca entre estos cambios la reciente nombramiento de Juho Sarvikas como CEO.
La empresa confirmó que no hay cambios en su guía financiera previamente anunciada para el Q4 2024, con resultados que se anunciarán el 19 de febrero de 2025. La Junta está buscando activamente nuevos directores con experiencia relevante en la industria y en operaciones.
인시고 코퍼레이션 (NASDAQ: INSG)은 필 브레이스가 집행 회장직을 사임하고 스카이웍스 솔루션즈의 CEO로 취임함에 따라 중요한 리더십 변경을 발표했습니다. 제프 투더는 2017년부터 인시고의 이사회에서 활동해왔으며 즉시 독립 회장으로 임명되었습니다.
브레이스의 15개월 재임 기간 동안 인시고는 부채를 줄이고 유동성을 개선하기 위해 자본 구조를 재편성하고 비핵심 국제 텔레매틱 사업을 매각하며 경영 팀을 강화하는 등의 몇 가지 주요 이정표를 달성했습니다. 이러한 변화 중에서 주호 사르비카스의 CEO 취임이 가장 주목됩니다.
회사는 이전에 발표된 2024년 4분기 재무 지침에 변동이 없음을 확인했으며, 결과는 2025년 2월 19일에 발표될 예정입니다. 이사회는 관련 산업 및 운영 경험이 있는 새로운 이사를 적극적으로 찾고 있습니다.
Inseego Corp. (NASDAQ: INSG) a annoncé d'importants changements de direction, Phil Brace démissionnant de son poste de Président Exécutif pour devenir PDG de Skyworks Solutions. Jeff Tuder, qui siège au conseil d'administration de Inseego depuis 2017, a été nommé Président indépendant avec effet immédiat.
Durant son mandat de 15 mois, Inseego a atteint plusieurs jalons clés, notamment la restructuration de sa structure de capital pour réduire la dette et améliorer la liquidité, la cession de son activité de télématique internationale non essentielle, et le renforcement de l'équipe de direction. Parmi ces changements, la récente nomination de Juho Sarvikas en tant que PDG est particulièrement notable.
L'entreprise a confirmé qu'il n'y a eu aucun changement dans ses prévisions financières précédemment annoncées pour le T4 2024, les résultats devant être publiés le 19 février 2025. Le Conseil cherche activement de nouveaux administrateurs ayant une expérience pertinente dans l'industrie et les opérations.
Inseego Corp. (NASDAQ: INSG) hat bedeutende Veränderungen in der Führung angekündigt, da Phil Brace als Executive Chairman zurücktritt, um CEO von Skyworks Solutions zu werden. Jeff Tuder, der seit 2017 im Vorstand von Inseego sitzt, wurde mit sofortiger Wirkung zum unabhängigen Chairman ernannt.
Während Braces 15-monatiger Amtszeit erreichte Inseego mehrere wichtige Meilensteine, darunter die Umstrukturierung seiner Kapitalstruktur zur Reduzierung der Schulden und Verbesserung der Liquidität, die Veräußering des nicht zum Kerngeschäft gehörenden internationalen Telematikgeschäfts und die Stärkung des Führungsteams. Besonders bemerkenswert ist die jüngste Ernennung von Juho Sarvikas zum CEO.
Das Unternehmen bestätigte, dass es keine Änderungen an den zuvor angekündigten finanziellen Vorgaben für das 4. Quartal 2024 gibt, wobei die Ergebnisse am 19. Februar 2025 bekannt gegeben werden. Der Vorstand sucht aktiv nach neuen Direktoren mit relevanter Branchenerfahrung und Betriebskompetenz.
- Successful capital structure overhaul resulting in reduced debt and improved liquidity
- Strategic divestment of non-core international telematics business
- Strengthened management team with key executive hires
- Maintained Q4 2024 financial guidance stability
- None.
Jeff Tuder appointed independent Chairman of the Board
Phil Brace assumes CEO role at Skyworks Solutions and steps off Board of Directors following successful overhaul of the Company and appointment of new Inseego CEO Juho Sarvikas
SAN DIEGO, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Inseego Corp. (Nasdaq: INSG) (“Inseego” or the “Company”), a technology leader in 5G mobile and fixed wireless solutions for mobile network operators, Fortune 500 enterprises, and SMBs, today announced that Phil Brace is stepping down from his role as Executive Chairman of the Company’s Board of Directors, effective immediately, in order to serve as CEO and board member of Skyworks Solutions, Inc. (Nasdaq: SWKS), a S&P 500 company.
Under Brace’s leadership, Inseego completed a major overhaul of the Company’s capital structure to reduce total debt and improve the Company’s liquidity, successfully divested its non-core international telematics business, and strengthened the Company’s management team with a number of key executive and functional hires, capped-off with the addition of Juho Sarvikas as the Company’s new Chief Executive Officer last month.
Jeff Tuder has been appointed as independent Chairman of the Company’s Board of Directors, effective immediately. Tuder has served on Inseego’s Board of Directors since 2017 and previously served as Chairman of the Board from August 2022 to February 2024, when Brace took-on the newly-created Executive Chairman role.
“I’m proud of the team and the transformation that we’ve driven together at Inseego over the past 15 months,” said Brace. “I believe Inseego is well-positioned to continue to enhance its position in the wireless marketplace and drive additional expansion of stockholder value. Juho is a tremendous industry leader and executive to drive the Company’s next phase of growth and innovation.”
“I’m honored to take-on the Chairman role at Inseego,” said Tuder. “On behalf of the Board, I want to thank Phil for his exceptional leadership and contributions as Executive Chairman this past year. Phil joined the board at an important time for the Company and agreed to step into the Executive Chair role shortly thereafter. Inseego achieved extraordinary progress during his tenure, and I know I speak for everyone at the Company in expressing our gratitude and in wishing Phil tremendous success at Skyworks.”
“I am excited about the path ahead at Inseego and I’m committed to driving continued value creation for our stockholders," said Juho Sarvikas, Inseego’s Chief Executive Officer. "On behalf of the entire management team and all of Inseego’s employees, many thanks to Phil for his excellent leadership and laying a strong foundation for growth and success going forward. I am looking forward to working closely with Jeff and my fellow Board members as Inseego continues to execute on its mission to become the leading provider of wireless connectivity solutions."
As part of its ongoing nominating and governance process, the Board is in active dialogue with candidates with relevant industry and operating experience to join the Board of Directors.
The Company also announced today that there was no change to its financial guidance for the fourth quarter of 2024, ended December 31, 2024 (which was provided on November 12, 2024). The Company will report its fourth quarter and full-year 2024 financial results on February 19, 2025, as previously announced on January 23, 2025.
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) is the industry leader in 5G Enterprise cloud WAN solutions, with millions of end customers and thousands of enterprise and SMB customers on its 4G, 5G, and cloud platforms. Inseego's 5G Edge Cloud combines the industry's best 5G technology, rich cloud networking features, and intelligent edge applications. Inseego powers new business experiences by connecting distributed sites and workforces, securing enterprise data, and improving business outcomes with intelligent operational visibility---all over a 5G network. For more information on Inseego, visit www.inseego.com. #Putting5GtoWork
Cautionary Note Regarding Forward-Looking Statements
Some of the information presented in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as “may,” “estimate,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “project,” “will” and similar words and phrases indicating future results. The information presented in this news release related to our future business outlook, the future demand for our products, and other statements that are not purely historical facts are forward-looking. These forward-looking statements are based on management’s current expectations, assumptions, estimates, and projections. They are subject to significant risks and uncertainties that could cause results to differ materially from those anticipated in such forward-looking statements. We, therefore, cannot guarantee future results, performance, or achievements. Actual results could differ materially from our expectations.
Factors that could cause actual results to differ materially from the Company’s expectations include: (1) the Company’s dependence on a small number of customers for a substantial portion of our revenues; (2) the future demand for wireless broadband access to data and asset management software and services and our ability to accurately forecast; (3) the growth of wireless wide-area networking and asset management software and services; (4) customer and end-user acceptance of the Company’s current product and service offerings and market demand for the Company’s anticipated new product and service offerings; (5) our ability to develop sales channels and to onboard channel partners; (6) increased competition and pricing pressure from participants in the markets in which the Company is engaged; (7) dependence on third-party manufacturers and key component suppliers worldwide; (8) the impact of fluctuations of foreign currency exchange rates; (9) the impact of supply chain challenges on our ability to source components and manufacture our products; (10) unexpected liabilities or expenses; (11) the Company’s ability to introduce new products and services in a timely manner, including the ability to develop and launch 5G products at the speed and functionality required by our customers; (12) litigation, regulatory and IP developments related to our products or components of our products; (13) the Company’s ability to raise additional financing when the Company requires capital for operations or to satisfy corporate obligations; (14) the Company’s ability to execute its plans and expectations relating to acquisitions, divestitures, strategic relationships, software and hardware development, personnel matters, and cost containment initiatives; (15) the global semiconductor shortage and any related price increases or supply chain disruptions, (16) the potential impact of COVID-19 or other global public health emergencies on the business, (17) the impact of high rates of inflation and rising interest rates, (18) the impact of import tariffs on our materials and products, and (19) the impact of geopolitical instability on our business.
These factors, as well as other factors set forth as risk factors or otherwise described in the reports filed by the Company with the SEC (available at www.sec.gov), could cause results to differ materially from those expressed in the Company’s forward-looking statements. The Company assumes no obligation to update publicly any forward-looking statements, even if new information becomes available or other events occur in the future, except as otherwise required under applicable law and our ongoing reporting obligations under the Securities Exchange Act of 1934, as amended.
©2025. Inseego Corp. All rights reserved. Inseego is a trademark of Inseego Corp. Other Company, product, or service names mentioned herein are the trademarks of their respective owners.
Investor Relations Contact:
Matt Glover and Alec Wilson, Gateway Group
IR@inseego.com
(949) 574-3860
Media Relations Contact:
Jodi Ellis, Inseego Corp.
PR@inseego.com
FAQ
What leadership changes were announced at Inseego (INSG) in February 2025?
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When will Inseego (INSG) report its Q4 2024 financial results?
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