Bsquare Announces Appointment of Jerry D. Chase as President and CEO
BELLEVUE, WA -- (Marketwired) -- 02/25/14 -- BSQUARE Corporation
(NASDAQ: BSQR), a leading enabler of smart, connected systems, today
announced that its Board of Directors has unanimously appointed Jerry
D. Chase as President and Chief Executive Officer of the company.
Chase, 54, joined the Board of Bsquare in July of 2013 and has been
serving as the interim CEO since September of 2013.
"We are pleased with the significant progress that Jerry, as interim
CEO, and the management team have made in putting the company on a
sound financial footing and in developing our new strategy," said
Andrew Harries, Chairman of the Board. "We are confident with Jerry
as CEO, our team will continue to improve our licensing and
professional engineering services businesses, and grow our
capabilities in the emerging Internet of Things (IoT) market. Jerry
clearly has the expertise, desire and capacity for leadership to take
our organization to its next stage of growth."
Mr. Chase said, "I feel very fortunate to have the opportunity to
lead Bsquare at such an exciting time in its history. I look forward
to continuing to work closely with the Board and the management team
to achieve and maintain sustained profitability and positive cash
flow in our existing businesses. Bsquare is well positioned to build
on our existing market position and technical strengths to expand our
participation in the rapidly growing IoT market, starting with our
existing world-class customers."
Jerry Chase has considerable public company leadership experience.
From February 2008 to June 2011, Mr. Chase served as CEO and director
of Lantronix (LTRX), a publicly traded provider of secure software,
and embedded and external hardware solutions. Mr. Chase was
previously CEO and director of Terayon (TERN), a publicly traded
cable, satellite and telecom supplier of digital video networking
applications, from September 2004 to July 2007. Prior to serving as
the CEO of Terayon, he held leadership roles in several digital video
and networking systems companies. Mr. Chase is a former United States
Marine Corps Officer and Pilot and holds an MBA from Harvard Graduate
School of Business Administration a
nd a BS in Business
Administration, Magna Cum Laude from East Carolina University. Mr.
Chase currently serves as a board member of East Carolina
University's BB&T Center for Leadership Development.
Bsquare will release Q4 2013 earnings after market today.
About BSQUARE Corporation: Bsquare, a global leader in embedded
solutions, applies experience and expertise on leading platforms to
create new connections with customers, new business models and to
enable new ways of working and communicating. Bsquare serves
customers by forging connections among the partners, people, tools
and technology needed to create smart connected devices. For more
information, visit www.bsquare.com.
Cautionary Note about Forward-Looking Statements: This release
contains forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Examples of forward-looking statements include, among others,
those regarding: strategies and expectations for customer retention,
growth, and market position, including within the Internet of Things
market; financial results in future periods such as anticipated
profitability and positive cash flow; expectations for particular
products, including DataV, and for our professional engineering
services business; and expectations about the success of our
management team and our personnel more broadly. 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 our control.
Our actual results and financial condition may differ materially from
those indicated in the forward-looking statements. Therefore, you
should not rely on any of these forward-looking statements. Important
factors that could cause our actual results and financial condition
to differ materially from those indicated in the forward-looking
statements include, among others, the following: the extent to which
we are successful in gaining new long-term relationships with
customers and retaining existing ones; our ability to execute our
sales and marketing strategies around the Internet of Things market
and our product and service offerings more generally; whether we are
able to maintain our favorable relationship with Microsoft; changes
in customer demand for our engineering services; our success in
leveraging strategic partnering initiatives with companies such as
Qualcomm; our management of risks associated with protection of
intellectual property and potential infringement claims; risks
associated with recent changes in our senior management team; risks
associated with our ability to achieve the anticipated benefits of
our 2013 restructuring; possible changes in the size and components
of the expected charges associated with this restructuring; and such
other risk factors as discussed in our most recent Annual Report on
Form 10-K and other filings with the SEC. Any forward-looking
statement made by us in this release is based only on information
currently available to us and speaks only as of the date on which it
is made. Except as may be required by law, we undertake no obligation
to publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of new
information, future developments or otherwise.
BSQUARE is a registered trademark of BSQUARE Corporation.
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Susan Pierson Brown
Seven November, Inc.
+ 1 646.536.7331
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