Transition of Leadership at Quarterhill: A New Era Begins

Transitioning Leadership at Quarterhill Inc.

Quarterhill Inc. has recently made a significant announcement regarding the departure of its Chief Financial Officer (CFO), Kyle Chriest. This decision marks a pivotal moment for the company as it seeks to continue its growth trajectory in the Intelligent Transportation System (ITS) industry. Kyle will remain with Quarterhill until the end of January to facilitate a smooth transition, providing the necessary time for the company to recruit a suitable replacement.

Interim Leadership in Place

The company has appointed Morgan Demkey as the Interim CFO while the search for a new executive is underway. Morgan has been with Quarterhill since 2021, originally serving as the Director of Finance before advancing to the role of VP Operations in 2024. His extensive experience and qualifications, which include a Chartered Professional Accountant (CPA) designation and a Master’s degree in Professional Accounting from the University of Saskatchewan, make him a strong fit for the interim role.

CEO's Acknowledgment of Contributions

Chuck Myers, the CEO of Quarterhill, expressed gratitude for Kyle’s contributions over the last 18 months, highlighting the transformative period that Quarterhill has undergone during his tenure. Under Kyle's financial guidance, the company has made substantial strides in integrating its businesses, divesting non-core assets, and enhancing its technical capabilities. This progress positions Quarterhill well for future growth as it aims to expand its market presence while focusing on profitability.

Company’s Strategic Outlook

Despite the transition in leadership, Quarterhill remains committed to its strategic goals and financial health. The company has stated that Kyle's departure is not a result of any disagreements regarding its financial performance or operational strategies. Instead, Quarterhill's management believes that the current trajectory remains strong, with no changes anticipated in the company's outlook. The upcoming Q4 results are expected to be released in mid-March.

A Vision for the Future

As Quarterhill embarks on this new chapter, it continues to focus on becoming a leader in the ITS sector. The company prioritizes growth through innovative solutions in tolling and enforcement, aiming to capitalize on strategic acquisitions and partnerships in the industry. This focus on technology-driven leadership reflects Quarterhill's commitment to delivering value to its stakeholders.

About Quarterhill Inc.

Quarterhill Inc. is at the forefront of providing tolling and enforcement solutions within the ITS industry. The company is dedicated to leveraging organic growth alongside acquisitions that present enticing opportunities. Listed on the TSX under the symbol QTRH and on the OTCQX Best Market under QTRHF, Quarterhill focuses on fulfilling its mission to drive technological advancements and operational efficiencies in the market.

Frequently Asked Questions

1. What prompted the departure of Quarterhill's CFO?

Kyle Chriest is leaving to pursue another employment opportunity, and his departure is not linked to disagreements with company leadership.

2. Who will serve as the Interim CFO during the transition?

Morgan Demkey has been appointed as the Interim CFO while Quarterhill searches for a permanent replacement.

3. What are some key achievements of Quarterhill in the past year?

Quarterhill has made significant progress in integrating its businesses and streamlining operations, which has strengthened its market position.

4. What is Quarterhill's focus moving forward?

Quarterhill aims to enhance its market presence in the Intelligent Transportation System sector through growth and innovation.

5. When are Quarterhill's Q4 results expected?

The company expects to release its Q4 results in mid-March.

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