Quarterhill Announces the Passing of Michael Vladescu
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announces the unexpected passing of Michael Vladescu, CEO of its subsidiary Wi-LAN, on May 4, 2022. Michael joined Wi-LAN in 2012 and became CEO in 2019, earning respect for his leadership and contributions. Bret Kidd, Quarterhill's CEO, and Jim Skippen, Vice-Chair, expressed their condolences and acknowledged Michael's impact on the company and community. The Board will announce future leadership plans for Wi-LAN shortly. Quarterhill is focused on growth in the Intelligent Transportation System industry and continued investment strategies.
- Quarterhill is a leader in Intelligent Transportation Systems (ITS) and active in technology licensing through Wi-LAN.
- The company has a clear growth strategy focusing on organic growth and acquisitions in ITS.
- The sudden loss of CEO Michael Vladescu may create short-term leadership uncertainty.
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TORONTO, May 4, 2022 /PRNewswire/ - With great sadness, the Executive team and Board of Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) announce the sudden and untimely passing of our friend Michael Vladescu, Chief Executive Officer of Wi-LAN Inc. ("WiLAN"). Michael joined WiLAN, a wholly owned subsidiary of Quarterhill, in 2012 as Chief Operating Officer and has been WiLAN's Chief Executive Officer since 2019.
"On behalf of Quarterhill and WiLAN and our Board and all our employees, I want to express our deepest condolences to Michael's family and community at this very difficult time," said Bret Kidd, Chief Executive Officer of Quarterhill. "For ten years Michael was an outstanding leader and contributor to the success at WiLAN, earning the utmost respect of the WiLAN team and Quarterhill's Board. His tenacity and intellect, and most of all his kindness and guidance will be missed throughout the halls of WiLAN."
"Michael and I have been friends and colleagues for 25 years and we at Quarterhill are in shock over this sudden loss," said Jim Skippen, Vice-Chair of Quarterhill. "Michael was a talented, dedicated, hard-working and warm person who was well-loved by his colleagues and all those he came into contact with during his career. He was a well-respected and recognized leader in the field of technology licensing and was frequently invited to speak at conferences and events on patents and technology licensing. Despite his dedication to his profession and his friends at work, nothing was more important to him than his wonderful family, and our thoughts are with his wife Caroline and their children."
The Board and Management of Quarterhill will have further announcements in the near future about the future leadership of WiLAN.
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.
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