Sangoma Appoints Technology Industry Veteran Bill Wignall as New CEO
August 04 2010 - 5:11PM
Marketwired
Sangoma® Technologies Corporation (TSX VENTURE: STC), a leading
supplier of hardware and software enabling server-based voice and
data communication applications, announced today that has appointed
William J. Wignall, P.Eng., as new President and CEO, effective
September 7, 2010. Mr. Wignall will replace David Mandelstam, the
current Chief Executive Officer who will remain on the Board as
Chairman. Mr. Mandelstam is a founder of Sangoma Technologies and
has been Chief Executive since 2001.
"We are delighted to welcome Bill to lead the company in the
execution of its growth strategy. Bill has demonstrated solid top
and bottom-line management success in a number of senior management
roles in companies of various sizes in the technology sector," said
David Mandelstam. "We appointed Bill after an extensive search and
are confident that his deep operational and strategic skills will
be major assets to the Corporation."
Mr. Wignall most recently held the role of President and CEO at
Truition Inc., a developer and marketer of e-Commerce software. He
previously had been President and CEO of Electronics Workbench, a
supplier of design, development and simulation software for
electronics engineering, where he guided the company through an
aggressive growth and rebranding phase that culminated in the sale
of the company to National Instruments. Bill has served in senior
management roles throughout his career at companies ranging in size
from startups to Northern Telecom, BNI and Telezone.
"This is an exciting time to be assuming leadership of Sangoma,"
said Bill Wignall. "The company is poised for expansion based on
its investments in new products and distributors, as well as on its
financial strength. We will work closely with existing customers
and our valued channel partners, and will also target new markets
and territories, to further accelerate growth. The Sangoma name and
solid reputation for product reliability, voice quality, inventory
availability, and industry leading compatibility will be important
assets as we do this. I'm proud to be taking over such a well run
company and we will be careful to maintain our existing close
partnerships and product investment in the voice and data industry
that have brought us this far."
Under the terms of his employment agreement, Mr. Wignall will be
granted options to acquire 1,651,654 common shares of Sangoma,
representing 6% of the number of shares on a fully-diluted basis at
the date hereof. Two-thirds of these options will be granted at a
price determined at the time of the grant (which is expected to be
within the current calendar quarter), and an equal amount of the
remaining balance of the options will be priced at a 15% premium
and a 25% premium to the primary grant of options. The options will
vest over a five year period.
About Sangoma Technologies Corporation
Sangoma is the premium provider of voice and data connectivity
components for software-based communication applications. Sangoma's
data cards, voice cards, gateways and connectivity software are
used in leading PBX, IVR, contact center and data-communication
applications worldwide. The product line represents a comprehensive
toolset for deploying cost-effective, powerful, and flexible
software communication applications.
Founded in 1984, Sangoma Technologies Corporation is publicly
traded on the TSX Venture Exchange (TSX VENTURE: STC). Additional
information on Sangoma can be found at: www.sangoma.com.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Calysto Communications Mara Gordon Samuels
404.266.2060 x 21 (office) or 732.803.0081 (mobile)
msamuels@calysto.com
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