Quarterhill Announces CFO Departure

TORONTO, May 24, 2023 /PRNewswire/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) announces that John Karnes, Chief Financial Officer ("CFO"), is departing the Company and Kyle Chriest, VP Corporate Finance, has been appointed Interim CFO. These changes are effective immediately.

Mr. Chriest joined Quarterhill in November 2022. Prior to Quarterhill, he spent six years at Calian Group Ltd., a publicly traded company on the Toronto Stock Exchange, where, as Director of Finance, he was responsible for managing the Finance Department of Calian's Advanced Technologies division. During Kyle's time with Calian, the company experienced significant organic and inorganic growth, with revenue growing from $250 million to $500 million. Prior to that, Mr Chriest held a variety of accounting roles at AutoCanada, KPMG LLP and Deloitte and Touche LLP. Mr. Chriest has a Bachelor of Commerce degree from the University of Saskatchewan and holds both Chartered Professional Accountant (CPA) and Chartered Accountant (CA) designations.

"I am pleased to have Kyle step into this role. He has public company experience in both a growth and technology environment, and in his time at Quarterhill he has made a strong contribution to our integration efforts and to the build-out of our shared services model in the ITS segment," said John Gillberry, Interim CEO.

About Quarterhill
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry, as well as, through its Wi-LAN Inc. subsidiary, a leader in Intellectual Property licensing. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit www.quarterhill.com.      

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SOURCE Quarterhill Inc.