Inseego Corp. Announces CFO Transition

About this update from Inseego Corp.

[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nInseego Corp. (Nasdaq: INSG) (the “Company”), a pioneer in 5G and intelligent IoT device-to-cloud solutions, today announced that Craig Foster has been appointed Executive Vice President and Chief Financial Officer, effective August 17, 2020. Mr. Foster will succeed Stephen Smith, who will be stepping down from the CFO role to pursue other interests. Mr. Smith will continue with Inseego in a consulting role to support the transition.\n\n\n“I’m pleased to announce that Craig Foster will be joining Inseego as our new CFO,” said Dan Mondor, Chairman and Chief Executive Officer. “Craig has a wealth of experience having served as the CFO of several public and private technology companies after a successful career in banking with Credit Suisse, UBS and RBC, and more recently, creating the finance strategies and teams for fast-growing, multi-national global companies. Inseego is exceptionally well positioned at the beginning of global 5G adoption and he brings the right combination of experience and expertise that will help lead us into our next chapter of profitable growth, driven by 5G. I look forward to working with Craig to capitalize on our future business opportunities and increasing value for our shareholders.”\n\n\nMr. Mondor added: “On behalf of the Board, I want to thank Steve for his numerous contributions. Steve was in the trenches with me in the early stage of the turnaround when we had to cut costs, conserve cash, fix the capital structure and raise new equity, all the while needing to invest in a 5G future that we clearly saw on the horizon. He leaves the company in a strong position, with a dramatically improved balance sheet, and I’m pleased that Steve will continue to support the company in a consulting capacity to ensure a smooth transition.”\n\n\nMr. Foster brings to Inseego more than 25 years of finance and capital markets experience, an extensive background in financial planning and operations, management and strategy, and a deep knowledge of the technology industry. He most recently served as CFO at Bright Machines, a spin-out of Foxconn focused on software for manufacturing. Prior to his role at Bright Machines, Mr. Foster served as CFO of Financial Engines, a publicly-traded software company, and played a primary role in the company’s $3.0 billion going private sale to Hellman & F...

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