5 directors out .
New co CEO.
Two directors in including D. Neil McDonnell who has a long long history of being involved in corporate turnarounds ( Photon Control was successful) and subsequent sale.
The Company also announces today that it has appointed D. Neil McDonnell and Catherine Sigmar to the board of directors of the Company (the “Board”), with Mr. McDonnell to serve as Chair of the Board. Mr. McDonnell and Ms. Sigmar are each highly respected individuals with significant experience in the technology sector and skills including strategic oversight, legal, turn-arounds and mergers & acquisitions.
Mr. McDonnell is a recognized leader in the Canadian technology space with over 25 years of experience building technology-based companies in enterprise software, embedded software and hardware applications. He is currently Chair of Quorum Information Technologies Inc., a North American SaaS software and services company listed on the TSX Venture Exchange (“TSXV”), and a director of Shiftboard Inc., a leading provider of enterprise workforce scheduling software, among other companies. Mr. McDonnell has extensive experience in past board and senior executive roles in the technology sector. He has also been the Chair of several companies involved in recent transactions that have resulted in strong results for shareholders, including: Chair of the board of Redline Communications Group Inc., a TSX-listed provider in mission-critical data infrastructure, during its acquisition by Aviat Networks Inc. in July 2022; Chair of Nanotech Security Corp., a TSXV-listed developer of nano-optic security features, for over two years leading up to and during its acquisition by Meta Materials Inc. in October 2021; Chair of Photon Control Inc., a TSX-listed developer and supplier of optical measurement technologies and systems, for over four years leading up to and during its acquisition by MKS Instruments Inc. in July 2021; and Chair of QHR Corporation, a TSXV-listed developer and supplier of electronic medical records and related health care products, for over a year leading up to and during its acquisition by Loblaws Companies Limited in October 2016.