53 F
San Diego
Wednesday, Apr 17, 2024
-Advertisement-

Novatel Reschedules Shareholders Meeting After Shakeup

Novatel Wireless Inc. said it adjourned its annual meeting of stockholders until July 23. The meeting had been set for June 24.

The company made its announcement after the close of business June 24, saying it wanted to give its new management more time to prepare for the meeting.

Novatel (Nasdaq: NVTL) makes wireless equipment for laptops, tablets and machine-to-machine communications. It recently experienced a board and management shakeup, with the board replacing CEO Peter Leparulo with Alex Mashinsky. Until recently, Mashinsky had been an activist shareholder who claimed the company could be performing better. Novatel has not had a profitable year since 2009.

In addition, the corporation recently replaced its chief operating officer and said its chief financial officer left for another job.

Mashinsky holds the CEO’s job temporarily; Novatel said it has engaged a search firm to find a permanent CEO and CFO.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-