Phunware Announces Retirement of CEO Mike Snavely and Appoints Stephen Chen as Interim CEO
Phunware (NASDAQ: PHUN) announced the retirement and resignation of CEO Michael Snavely, with former Board Chairperson Stephen Chen appointed as interim CEO effective October 22, 2024. The company is shifting focus towards generative AI, predictive analytics, and cloud-based services. As part of this transition, Phunware launched a new microsite (ai.phunware.com) dedicated to helping businesses and developers leverage generative AI and mobile app technologies. The company aims to strengthen its position in mobile and cloud-based solutions while expanding into AI-driven technologies.
Phunware (NASDAQ: PHUN) ha annunciato il ritiro e le dimissioni del CEO Michael Snavely, con l'ex presidente del Consiglio Stephen Chen nominato CEO ad interim, a partire dal 22 ottobre 2024. L'azienda sta cambiando focus verso l'IA generativa, l'analisi predittiva e i servizi basati su cloud. Nell'ambito di questa transizione, Phunware ha lanciato un nuovo microsito (ai.phunware.com) dedicato ad aiutare le imprese e gli sviluppatori a sfruttare l'IA generativa e le tecnologie delle app mobili. L'azienda punta a rafforzare la propria posizione nelle soluzioni mobili e basate su cloud, espandendosi nel contesto delle tecnologie guidate dall'IA.
Phunware (NASDAQ: PHUN) anunció la jubilación y renuncia del CEO Michael Snavely, con el ex presidente de la junta Stephen Chen nombrado CEO interino a partir del 22 de octubre de 2024. La empresa está cambiando su enfoque hacia la IA generativa, los análisis predictivos y los servicios basados en la nube. Como parte de esta transición, Phunware lanzó un nuevo micrositio (ai.phunware.com) dedicado a ayudar a las empresas y desarrolladores a aprovechar la IA generativa y las tecnologías de aplicaciones móviles. La compañía tiene como objetivo fortalecer su posición en soluciones móviles y basadas en la nube, mientras se expande en tecnologías impulsadas por IA.
Phunware (NASDAQ: PHUN)는 CEO Michael Snavely의 은퇴와 사임을 발표하고, 전 이사회 의장 Stephen Chen을 2024년 10월 22일부터 임시 CEO로 임명했습니다. 회사는 생성적 AI, 예측 분석 및 클라우드 기반 서비스에 초점을 맞추고 있습니다. 이 전환의 일환으로 Phunware는 기업과 개발자가 생성적 AI와 모바일 앱 기술을 활용할 수 있도록 돕는 새로운 마이크로 사이트(ai.phunware.com)를 출시했습니다. 회사는 모바일 및 클라우드 기반 솔루션에서의 입지를 강화하고 AI 기반 기술로 확장하는 것을 목표로 하고 있습니다.
Phunware (NASDAQ: PHUN) a annoncé la retraite et la démission du PDG Michael Snavely, avec l'ancien président du conseil d'administration Stephen Chen nommé PDG par intérim à partir du 22 octobre 2024. L'entreprise réoriente son activité vers l'IA générative, l'analyse prédictive et les services basés sur le cloud. Dans le cadre de cette transition, Phunware a lancé un nouveau microsite (ai.phunware.com) dédié à aider les entreprises et les développeurs à tirer parti de l'IA générative et des technologies d'applications mobiles. L'entreprise vise à renforcer sa position dans les solutions mobiles et basées sur le cloud tout en s'élargissant aux technologies pilotées par l'IA.
Phunware (NASDAQ: PHUN) gab die Pensionierung und den Rücktritt von CEO Michael Snavely bekannt, wobei der ehemalige Vorsitzende des Vorstands Stephen Chen ab dem 22. Oktober 2024 als interimistischer CEO ernannt wurde. Das Unternehmen verlagert den Fokus auf generative KI, prädiktive Analytik und cloudbasierte Dienstleistungen. Im Rahmen dieser Transition hat Phunware eine neue Microsite (ai.phunware.com) ins Leben gerufen, die Unternehmen und Entwicklern helfen soll, generative KI und mobile App-Technologien zu nutzen. Das Unternehmen zielt darauf ab, seine Position in mobilen und cloudbasierten Lösungen zu stärken und sich gleichzeitig in KI-gesteuerte Technologien zu expandieren.
- Strategic pivot towards AI and predictive analytics indicates potential new revenue streams
- Launch of dedicated AI microsite shows concrete steps towards new business direction
- Unexpected CEO departure could create leadership uncertainty
- Transition period with interim CEO may slow strategic decision-making
AUSTIN, Texas, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN), a leader in cloud enterprise solutions for mobile applications and related technologies, announced today that Michael Snavely, CEO of Phunware, has retired and resigned from Phunware. Stephen Chen, former Chairperson of the Phunware Board of Directors, has assumed the role of interim CEO of Phunware, effective October 22, 2024.
"We appreciate Mike's dedication and service to Phunware and wish him much success in the future," said Mr. Chen. "I am proud and excited to assume the role of interim CEO as we prepare to embark on new opportunities in generative AI, predictive analytics, and cloud-based services. We are confident that this transition will enable Phunware and its shareholders to accelerate our journey."
Phunware remains committed to providing cutting-edge software, advertising, and other tools that empower enterprises to connect with people on a deeper, more human level. This new direction, powered by generative AI, reinforces Phunware's commitment to helping businesses thrive through meaningful engagement and technological transformation. The Phunware management team is excited to advance Phunware's leadership in mobile and cloud-based solutions, setting the stage for its next phase of growth and expansion into AI-driven technologies and broader digital engagement. In conjunction with this announcement, Phunware has launched a new microsite dedicated to helping businesses and developers better understand and leverage generative AI and Phunware’s mobile app technologies. This resource will guide users through the potential of AI in transforming engagement and business operations. For more details, visit https://ai.phunware.com/.
Mr. Snavely said, "Leading Phunware as CEO has been one of the most rewarding experiences of my career. I am very proud of what we accomplished as a team over the last 12 months. As I stated in our Letter to Shareholders, Phunware and its platforms, products, and services are well-positioned for the future. I am looking forward to my retirement and to pursuing my passion for rural enterprises."
About Phunware
Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions. We provide businesses with the tools to create, implement and manage custom mobile applications and analytics, digital advertising and location-based services. Phunware is transforming mobile engagement by delivering scalable and personalized mobile app experiences.
Phunware’s mission is to achieve unparalleled connectivity and monetization through widespread adoption of Phunware mobile technologies, by leveraging brands, consumers, partners and digital asset holders and market participants. Phunware is poised to expand its software products and services audience and industry verticals through its new platform, utilize and monetize its patents and other intellectual property rights and interests, and update and reintroduce its digital asset ecosystem for existing holders and new market participants.
Phunware Investor Relations:
CORE IR
516-222-2560
investorrelations@phunware.com
MZ Group, North America
Joe McGurk, Managing Director
917-259-6895
PHUN@mzgroup.us
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