ATLANTA, July 8, 2024
/PRNewswire/ -- KORE Group Holdings, Inc. (NYSE:KORE) ("KORE," the
"Company," "we" or "our), a global leader in Internet of Things
("IoT") Solutions and pioneering IoT hyperscaler, announced that
Bruce Gordon has joined as Executive
Vice President and Chief Operating Officer (COO), effective
July 2, 2024.
Gordon brings over three decades of technology sector
experience, having held multiple significant leadership roles. Most
recently, he served as Chief Executive Officer and Executive
Chairman of GeoDigital, a provider of 3D services and geospatial
intelligence software. Previously, at ABB Ventyx (formerly Mincom),
Gordon served as Senior Vice President, Business Solutions. Prior
to this Gordon held roles of Chief Technology Officer at Infor, a
leading enterprise software company, overseeing technology strategy
through a significant period of growth which included the
acquisition and integration of 27 companies, and Chief Operating
Officer at Descartes where he was responsible for a significant
business transformation.
"I am thrilled to join KORE and lead our operational strategies
during this exciting period of expected growth. With a focus on
innovation and customer-centered solutions, I look forward to
working with the talented team at KORE to drive operational
excellence and deliver unparalleled value to our customers," said
Gordon.
In his new role as Executive Vice President and COO of KORE,
Gordon will focus on enhancing operational efficiencies, fostering
innovation and driving sustainable growth. His leadership will help
optimize KORE's internal processes, leverage human talent and
maximize market opportunities to solidify the Company's position as
a leader in IoT.
"We are delighted to welcome Bruce to the KORE executive team,"
said Ron Totton, Interim President
and CEO of KORE. "Bruce's extensive experience and proven track
record in transforming organizations and driving growth will be
invaluable as we continue to innovate and expand our offerings to
meet the evolving needs of our customers."
In connection with his employment, the Company made a grant to
Gordon of an aggregate of 100,000 restricted stock units ("RSUs"),
where each RSU represents the right to receive one share of the
Company's common stock upon the terms and conditions of the related
RSU award agreements (the "Award Agreements"). The grant of RSUs
was offered as a material inducement to Gordon's hiring.
The RSUs were granted by the Compensation Committee of KORE's
Board of Directors, in reliance on the employment inducement
exemption under the NYSE's Listed Company Manual Rule 303A.08,
which requires public announcement of inducement awards. The
Company is issuing this press release pursuant to Rule 303A.08. The
RSUs were granted outside the KORE Group Holdings, Inc. 2021
Long-Term Stock Incentive Plan (the "Plan") but will be governed by
the terms of the Plan as if they were issued under the Plan.
Subject to the terms and conditions of the Award Agreements,
10,000 RSUs shall vest in the first anniversary of the grant date,
27,500 RSUs shall vest on the second anniversary of the grant date,
27,500 RSUs shall vest on the third anniversary of the grant date,
and 35,000 RSUs shall vest on the fourth anniversary of the grant
date, subject to Gordon's continuous employment or service to the
Company through the applicable vesting date.
About KORE
KORE is a pioneer, leader, and trusted advisor delivering
mission critical IoT solutions and services. We empower
organizations of all sizes to improve operational and business
results by simplifying the complexity of IoT. Our deep IoT
knowledge and experience, global reach, purpose-built solutions,
and deployment agility accelerate and materially impact our
customers' business outcomes. For more information, visit
korewireless.com.
Cautionary Note on Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include the Company's
statements with respect to expected future operational
efficiencies, market opportunity, products and services offered,
financial performance and other statements and projections that do
not relate solely to historical facts. Forward-looking statements
may be identified by the use of words such as "anticipate,"
"believe," "estimate," "expect," "intend," "may," "goal," "plan,"
"will," "would," "prospects," "future," or "strategy" or the
negative thereof or other variations thereof or similar references
to future periods, although not all forward-looking statements
include these identifying words. Forward-looking statements are not
assurances of future performance. Instead, they are based only on
the Company's current beliefs, expectations and assumptions
regarding future events, which in turn are based on information
currently available to the Company. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict and many of which are outside of the Company's
control. Actual results may differ materially from those indicated
in the forward-looking statements. Important factors that could
cause our actual results, performance, liquidity or achievements to
differ materially include our ability to transition to a new
interim President and CEO, our ability to successfully identify and
engage a permanent President and CEO and the other factors
described in the Company's Annual Report on Form 10-K for the year
ended December 31, 2023, and the Company's other filings with
the Securities and Exchange Commission. In light of the significant
risks and uncertainties inherent in forward-looking statements,
investors should not place undue reliance on forward-looking
statements, which reflect the Company's views only as of the date
of this press release. Except as required by law, neither the
Company nor any of its affiliates or representatives undertake any
obligation to provide additional information or to correct or
update any information set forth in this release, whether as a
result of new information, future developments or otherwise.
KORE Media Contact
Carla Deisenroth
VP, Global Marketing & Strategy
Email: cdeisenroth@korewireless.com
+1-248-982-2759
KORE Investor Contact:
Vik Vijayvergiya
Vice President, IR, Corporate Development and Strategy
vvijayvergiya@korewireless.com
+1-770- 280-0324
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SOURCE KORE Group Holdings, Inc.