CORPORATE CONTACT: Werner Gartner, CFO (403) 295-4550
MARKETING COMMUNICATIONS: Lori Winkler (403) 730-4677
(Calgary, Alberta, Canada, January 27th, 2009) - NovAtel Inc. (NovAtel®), a leading manufacturer of precise positioning technology, announced today that Michael Ritter has been named as the company's new President and CEO. Ritter replaces President and CEO, Jon Ladd, who is assuming a new role with NovAtel's parent company, Hexagon AB, of Sweden.
A trained engineer, Ritter has over twenty years of experience in the precise Global Navigation Satellite System (GNSS) industry. Most recently as a senior executive with Trimble Navigation Ltd., Ritter was successful in implementing winning product and organizational strategies that were critical in driving both customer satisfaction and corporate revenues. Prior to Trimble, Ritter held senior positions with Schlumberger and various other companies around the world.
Mr. Ritter said, “NovAtel is well respected as a leader in the GNSS industry, with cutting-edge technology, strong customer relationships and a tremendously talented employee base. I look forward to building on their current success to take the company to the next level.”
Outgoing President and CEO, Jon Ladd stated, “After an extensive executive search, I believe we have hired the best candidate to continue expanding NovAtel's business and to develop strategies that will ensure the companies long-term success in the new global economic environment. Michael's understanding of the industry, his experience managing change and improvement processes, and his team oriented leadership style will fit very well with NovAtel's culture and business environment.”
Ola RollÃ©n, President and CEO of NovAtel's parent company, Hexagon AB said, “We are extremely pleased that Michael, who has world-class industry experience, will be leading the NovAtel team. We anticipate a very smooth transition of leadership and look forward to supporting Michael in his new growth initiatives for the company.” Of Ladd, RollÃ©n stated, “One only has to look at NovAtel's tremendous growth during Jon Ladd's tenure to recognize the value he delivered to the company. He and his management team firmly established NovAtel's position as a leading global manufacturer of GNSS precision technology, creating a powerful brand that is second to none in the industry.” Ladd will be assisting Ritter in his transition to NovAtel, after which he will be joining Hexagon in a strategic advisory role.
NovAtel Inc. is a leading original equipment manufacturer (OEM) of precision Global Navigation Satellite System (GNSS) components and subsystems, including receivers, antennas, enclosures and firmware. An ISO certified company, NovAtel's products are developed for efficient, rapid integration into our customers' precise positioning applications. These applications include surveying, Geographical Information System (GIS) mapping, precision agriculture machine guidance, port automation, mining, marine and defense industries. NovAtel's reference receivers are at the core of national aviation ground networks in the USA, Japan, Europe, China and India. The Company maintains its leadership position through significant R&D investment focusing on the modernized Global Positioning System (GPS), the revitalized Russian GLONASS and the emerging European Galileo satellite systems, as well as the integration of additional complementary technologies such as Inertial Measurement Units (IMUs). NovAtel Inc. is based in Calgary, Canada and is part of the Hexagon Group, Sweden.
For more information, visit www.novatel.com.
NovAtel is a registered trademark of NovAtel Inc.
About Hexagon AB
Hexagon AB is a global measurement technologies company with strong market positions. Hexagon's mission is to develop and market leading technologies and services to measure in one, two or three dimensions, to position and update objects and to time processes. The group has about 8 000 employees in 35 countries and net sales of about 13 000 MSEK.
Read more at www.hexagon.se.
Posted on 27/01/2009