Sonim Technologies (NASDAQ:SONM) is moving lower in the opening session on Tuesday after the news.
Market Action
As of 10:04, SONM stock fell 1.30% to $0.5013 on volume of .652 million shares, compared to its daily average volume of 1.89 million shares. The stock has moved within a range of $0.4900 – 0.5100 after opening the trade at $0.51.
Sonim Appoints Robert Tirva as President and Chief Operating Officer
- announced that Robert (Bob) Tirva, currently serving as Chief Financial Officer, will be promoted to President and Chief Operating Officer. He will report directly to the Board of Directors and work closely with the Strategic Alternatives and Operating Committee.
- The Strategic Alternatives and Operating Committee is chaired by Mike Mulica and includes Sonim board members Sue Swenson and Ken Naumann, all three of whom have extensive CEO and turnaround experience in the communications equipment industry. The committee was formed to consider options and strategies to better support the needs of Sonim’s customers and to consider alternatives to maximize long-term shareholder value.
- The Company also announced that Tom Wilkinson, who has served as Chief Executive Officer since October 2019, will depart the company.
“Leveraging Mike, Sue and Ken’s experience and considerable talents is paramount to returning the company to a strong market position and creating long-term shareholder value. We now have the right skills and leadership to support this objective going forward,” said John Kneuer, Chairman of the Board of Directors. “We appreciate Tom’s service and wish him well. Bob is a proven professional, and having him work closely with the Strategic Alternatives and Operating Committee will help accelerate the company’s strategy enabling more effective service and support of our customers.”
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