Sonim Announces Departure of Directors, Filing of Updated Proxy Materials
On September 28, 2020, Sonim Technologies (Nasdaq: SONM) announced the departures of directors Maurice Hochschild and Jeffrey Johnson from its Board of Directors. Consequently, the board size has been reduced from seven to five members, with no replacements for the departing directors. Hochschild will focus on a new startup in the UK, while Johnson will assist in business development. Directors Sue Swenson and Kenny Young will oversee governance responsibilities. The company continues to pursue growth in rugged mobile device markets for public safety.
- The board size has been streamlined from seven to five members for efficient governance.
- Jeffrey Johnson's experience will help enhance business development opportunities in public safety.
- The departure of two directors could indicate potential instability or challenges in leadership.
- No new nominees for the Board could affect investor confidence in governance.
AUSTIN, Texas, Sept. 28, 2020 /PRNewswire/ -- Sonim Technologies, Inc. (Nasdaq: SONM), today announced the departure of two directors, Maurice Hochschild and Jeffrey Johnson. As a result of their departures, Mr. Hochschild's and Mr. Johnson's names have been withdrawn from nomination for re-election to the Board of Directors. The Board of Directors have determined that no other nominee for election at the Annual Meeting will be named in place of Mr. Hochschild or Mr. Johnson; the remaining five nominees will continue to stand for election or re-election at the Annual Meeting. The Board of Directors has reduced the size of the Board of Directors from seven to five directors.
Directors Sue Swenson and Kenny Young will assume the Governance and Nominating Committee responsibilities, with Young as Chair. Sonim has filed additional proxy materials pertaining to these changes.
Mr. Hochschild will be focusing on a new business start-up in the United Kingdom, where he is based. The combination of his new duties plus ongoing global travel restrictions will allow him to focus all of his attention on his new venture. Mr. Johnson is departing the board, but we expect that he will help us focus on business development for Sonim, leveraging his extensive network of public safety contacts.
"We thank Maurice for his foundational efforts in establishing Sonim as a leader in rugged mobility and wish him every success in his new endeavors," said John Kneuer, Chairman of the Board. "We look forward to working with Chief Johnson and taking advantage of his unparalleled experience and expertise to leverage Sonim's capabilities to the benefit of our nation's First Responders."
"We look forward to working with Jeff to further our opportunities in public safety delivering critical communications to local, state and federal governmental agencies," said Tom Wilkinson, Chief Executive Officer. "We are excited about the opportunity to leverage his extensive contact network across these end markets to drive new and expanded sales opportunities as more public safety and governmental customers recognize the value in rugged mobile devices and the FirstNet network."
About Sonim Technologies, Inc.
Sonim Technologies is a leading U.S. provider of ultra-rugged mobility solutions designed specifically for task workers physically engaged in their work environments, often in mission-critical roles. The Sonim solution includes ultra-rugged mobile phones, a suite of industrial-grade accessories, and data and workflow applications which are collectively designed to increase worker productivity, communication and safety on the job site. For more information, visit www.sonimtech.com.
Important Cautions Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, future growth, profitability, continued market acceptance of the Company's products. These forward-looking statements are based on Sonim's current expectations, estimates and projections about its business and industry, management's beliefs and certain assumptions made by the Company, all of which are subject to change. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, "future", "believe," "expect," "may," "will," "intend," "estimate," "continue," or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include Sonim's ability to continue to generate positive cash flow, and ability to be profitable; anticipated trends, such as the use of and demand for its products; its ability to attract and retain customers to purchase and use its products; its ability to attract wireless carriers as customers for its products; the evolution of technology affecting its products and markets; its ability to successfully address the technical issues identified with respect to its products; its ability to introduce new products and enhance existing products, as well as the other potential factors described under "Risk Factors" included in Sonim's Quarterly Report on Form 10-Q for the three months ended March 31, 2020, the Form 10-Q for the three months ended June 30, 2020, and other documents on file with the Securities and Exchange Commission (available at www.sec.gov). Sonim cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Sonim assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
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SOURCE Sonim Technologies, Inc.
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