Inseego Appoints Steven Gatoff as Chief Financial Officer

Rhea-AI Summary

Inseego Corp. appoints Steven Gatoff as CFO, succeeding Robert G. Barbieri who will step down. Gatoff brings extensive financial experience and will help grow the company profitably through disciplined financial planning. Inseego issues 250,000 stock options to Gatoff.

Positive

• Appointment of Steven Gatoff as CFO with extensive financial experience
• Financial planning to support company growth

Negative

• Stepping down of Robert G. Barbieri as CFO

SAN DIEGO--(BUSINESS WIRE)-- Inseego Corp., a leader in 5G edge cloud solutions, today announced the appointment of Steven Gatoff as Chief Financial Officer, effective September 14, 2023. Mr. Gatoff will succeed Robert G. Barbieri, who will be stepping down from the CFO role to pursue his desire to return to his consulting business.

“I’m delighted to welcome Steven to Inseego as our new Chief Financial Officer,” said Ashish Sharma, President and CEO at Inseego. “He has a proven track-record at multiple high-growth technology and telecom companies and brings extensive financial, operational, and strategic experience to Inseego, and his financial operations experience will help us in growing the company profitably through disciplined financial planning and analysis.”

Mr. Gatoff has more than 25 years of financial expertise and leadership experience, and a distinctive track record of driving value creation for technology and telecom companies with both large public companies and earlier-stage, hyper-growth environments. Mr. Gatoff joins Inseego from driving growth at several innovative start-up technology companies, after having served as public company CFO at Absolute Software, 8x8, Rapid7 and iPass. Earlier in his career, he has also held senior finance roles at United Online, Sterling Commerce, and VeriSign. Mr. Gatoff was previously an investment banker with several Wall Street firms, including Morgan Stanley, Bear Stearns, and Credit Suisse, and has deep experience in debt and equity capital markets and M&A. He began his career as an auditor with Deloitte and holds an MBA with honors from Columbia University.

Mr. Sharma added, “I also want to thank Bob Barbieri, who joined the company as a CFO a couple of years ago and worked through a challenging period for the company. We appreciate all of Bob’s efforts over the last couple of years. Bob will be available to consult with us in the near term to ensure a smooth transition.”

Inseego has issued an inducement award of 250,000 stock options to Mr. Gatoff. The options will have a ten-year term and an exercise price equal to the closing price per share of Inseego’s common stock as reported by NASDAQ on September 14, 2023, the date of grant. The options will vest over a four-year period, with 25% of the options vesting on the first anniversary of the date of grant and the remainder vesting in equal monthly installments over the three years thereafter. The option grant was approved by the independent compensation committee of Inseego’s board of directors in accordance with Nasdaq Marketplace Rule 5635(c)(4).

About Inseego Corp.

Inseego Corp. 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

©2023. Inseego Corp. All rights reserved. Inseego and MiFi are registered trademarks of Inseego Corp.

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Kurt Scheuerman

+1 (858)-812-8098

Kurt.Scheuerman@inseego.com

Source: Inseego Corp.