Novatel Wireless Appoints Alex Mashinsky as Permanent CEO
Novatel Wireless (NVTL), a San Diego-based Internet of Things (IoT) and cloud software-as-a-service (SaaS) solutions provider, this week appointed Alex Mashinsky as its permanent CEO.
Mashinsky replaced Peter Leparulo, who had served as Novatel’s CEO since April 2008, on an interim basis in June.
Novatel initially said its board of directors would evaluate candidates to fill the CEO role permanently but ultimately decided to keep Mashinsky at the helm.
“Alex has demonstrated strong leadership and sound judgment over the past few months, guiding Novatel Wireless to leverage its assets and refine its competitive positioning,” Sue Swenson, chairman of Novatel’s board of directors, said in a prepared statement. “We are delighted that Alex will continue to lead the company as we execute on our strategy and scale the business.”
Mashinsky joined Novatel’s board of directors in April and previously held executive positions with several companies, including:
- Governing Dynamics
- Transit Wireless
Mashinsky said he expects Novatel to target the IoT market going forward.
“I am inspired by the company’s future potential to build upon our creativity, culture and technology to forge a leading position in the rapidly growing IoT marketplace,” he said. “We are focused on leveraging our MiFi technology and our expansive supplier and partner relationships to provide cutting-edge solutions that answer the needs of our worldwide customers.”
Novatel’s revenue increases in Q3 2014
With Mashinsky serving as interim CEO, Novatel watched its revenue increase in the third quarter of 2014.
Novatel recorded $44.3 million in revenue during the third quarter, up from $37.3 million in the previous quarter.
Mashinsky added he believes Novatel is on the right path and could benefit from the rising demand for IoT solutions as well.
“We believe we are on the path to positive earnings, and our outlook continues to brighten,” he said in a prepared statement. “Demand for our leading solutions remains strong as we continue to closely manage expenses. We are excited about our ability to continue to leverage our robust technology and our strong position to benefit from the ongoing evolution of IoT.”