logo-loader
Internet of Things Inc.

Internet of Things taps Ron Shuttleworth as new CEO

Shuttleworth succeeds Michael Frank, who has been with the tech company since its inception

internet of things illustration
Shuttleworth joins the Toronto tech company with 25 years of experience in the tech sector

The Toronto-based tech company Internet of Things Inc (CVE:ITT) has tapped Ron Shuttleworth as its new chief executive officer to succeed Michael Frank who Is stepping down from the helm.

In a statement, Khurram Qureshi, IoT’s chief financial officer said the management change would help the company execute on its long-term strategy.

READ: Internet of Things set to buy AI firm offering road weather analytics

“The company is entering a stage of rapid growth, with global demand for data-driven scalable industrial technologies at an all-time high. IOT, now has a senior leadership team with the experience to support both our current business units and the successful execution of our long-term strategy,” Qureshi said.

Shuttleworth comes to Internet of Things with 25 years of experience in the technology sector as an operator, investor, analyst and investment banker, specializing in mergers and acquisitions and financings. 

He previously held the posts of chief executive, chief technology officer and product manager and boasts a background in fintech, enterprise software and marketing automation. He also once worked as a venture capitalist who backed early-stage technologies as well as a hedge fund analyst responsible for selecting stocks and balancing risk in portfolios.

“I am excited to join this emerging enterprise and to bring my experience in building companies, introducing deal flow and raising capital,” said Shuttleworth in a statement.

“I am inspired by the vision that Michael Frank and his team have implemented for emerging technologies and thank him for the foundation that has been put in place.”

READ: Internet of Things strikes joint venture deal with Chinese conglomerate New Hope

Frank, who has been with Internet of Things since its inception, is stepping down to pursue other opportunities.

The company has granted 2 million incentive stock options to Shuttleworth.

Internet of Things is an investor in and operator of emerging technology companies, which specialize in IoT, artificial intelligence and blockchain capabilities.

The Toronto company owns Weather Telematics Inc, which offers artificial intelligence (AI) based predictive road condition weather analytics. It has also moved into China following the striking of a joint venture with Chinese conglomerate New Hope Data Technology. This deal has cracked the door open for the company to bring IoT solutions to New Hope factories and other manufacturing facilities across China.

Internet of Things shares slipped by 12.5% to C$0.035 on Tuesday.

Quick facts: Internet of Things Inc.

Price: $0.02

Market: TSX-V
Market Cap: $3.04 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Internet of Things Inc. named herein, including the promotion by the Company of Internet of Things Inc. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Internet of Things looks to Chinese market with Joint Venture

Internet of Things (CVE:ITT) CEO Ron Shuttleworth joined Steve Darling from Proactive Investors on Skype to talk about their joint venture with New Hope Data and how that opens door to the Chinese market. Shuttleworth also telling proactive about the new CEO, Kevin Li, that has been hired...

on 03/29/2019

2 min read