Wednesday 17th December 2014
|Text too small?|
Paul Brewerton, chief operating officer of IkeGPS Group, has left the remote measuring devices and software company and will not be replaced.
Brewerton left on Nov. 7, the Wellington based company said in a brief statement. He had been with the company as operations manager since January 2012, according to a LinkedIn profile. His presence has been removed from the website, but in the company's June prospectus he is described as having "20 years of operational and supply chain experience in the telecommunications industry" managing regional operations across Asia for Nortel Networks.
On Nov. 10, the company announced it had hired former Apple Inc executive Richard Mander as executive vice president of engineering and Trimble Navigation's Peter Shaw as head of software engineering.
The company declined to make further comment about Breweton's departure, and said Mander's and Shaw's hires were unrelated.
IkeGPS is forgoing profit as it chases growth in the US market, and sees particular opportunity in the intelligence and security sector. In October, ikeGPS expanded a deal with US defence technology investor In-Q-Tel to further develop its smartphone measuring tool, Spike, for US intelligence and security forces, and would beat contract sales forecast in its June prospectus.
Shares of ikeGPS were unchanged at 90 cents. The company raised $25 million in new capital to fund its US expansion and product development when it listed on the NZX in July, through the sale of 22.7 million shares at $1.10 apiece.
No comments yet
NZ dollar rises after heartening Chinese data
Suspect company faces liquidation after director dies
Foreign investors face maximum penalty for breach after $13M purchase
Napier Port share offer $2.27-$2.60; will raise net $110 million
Crucial carbon reduction recommendations due tomorrow
NZ Super Fund to invest in $300M local hotel venture
Infratil-backed Longroad Energy secures Texas wind farm finance
Peters to meet top US administration hawks in Washington
BNZ kyboshes AMP's A$3.3 bln life business sale
Tourist numbers dip in May on fewer Chinese, Indian arrivals