1 Jul 2019 14:00
Telit Communications PLC
Directorate changes
London, 1 July 2019 - Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), announces that Marco Patuano has agreed to join the Board as a non-executive director - subject to satisfaction of customary regulatory due diligence and disclosures - and that Adam Power, one of the current non-executive directors, has resigned from the Board with immediate effect.
Adam is moving to Australia where he will be taking up a new full-time executive role, the terms of which preclude him remaining on the Telit Board.
Simon Duffy, non-executive Chairman, said:
"Marco has a distinguished career in telecommunications. Having joined Telecom Italia in 1990, he progressed through various managerial positions in the company and was appointed CEO in 2011, a position he held until 2016. From 2017 until earlier this year he was CEO of Edizione, the holding company of the Benetton family.
"Marco's appointment represents a significant addition to the calibre of the Board.
"At the same time, we are very sorry to see Adam depart. He has made a great contribution during his time on the Board and we will miss his insights as well as his incisive and forthright manner. We wish him the best in his new role."
Marco Patuano commented:
"I am delighted to be joining Telit at this point in the business' development. The company is well-positioned in one of the most exciting and rapidly growing technology sectors.
"I look forward to bringing my experience in the overlapping telecommunications sector to Telit's Board and to contributing to the company's development."
Enquiries:
Telit Communications PLC Simon Duffy, non-executive Chairman | Tel: +44 203 289 3831 |
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finnCap (Nomad and joint broker) | Tel: +44 20 7220 0500 |
Henrik Persson/Giles Rolls (corporate finance) |
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Tim Redfern/Richard Chambers (ECM) |
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Instinctif Partners | Tel: +44 20 7457 2077 |
Adrian Duffield/Chantal Woolcock |
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About Telit
Telit (AIM: TCM), is a global leader in Internet of Things (IoT) enablement. The company offers the industry's broadest portfolio of integrated products and services for end-to-end IoT deployments - including cellular communication modules in all technologies, GNSS, Wi-Fi, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.
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