WiSA Technologies Strengthens Leadership with New VP of Finance
WiSA Technologies Enhances Its Leadership Team
WiSA Technologies, Inc. (NASDAQ: WISA) is proud to announce the strategic hiring of Stanley Mbugua as the new Vice President of Finance. His appointment marks an important milestone for the company as it prepares for significant future growth. His official start was on September 30, 2024, and he is set to transition to the role of Chief Accounting Officer by November 30, 2024.
New Perspectives in Financial Leadership
In his dual role, Mr. Mbugua will manage a wide range of responsibilities typically associated with the Vice President of Finance and Chief Accounting Officer positions. This planned transition is a part of WiSA's commitment to build a robust leadership team to navigate the next exciting phase of the company's evolution.
Brett Moyer, CEO of WiSA Technologies, conveyed his enthusiasm for Mr. Mbugua's addition. "We are building our team for the next phase of growth, and we welcome Stanley. He brings extensive experience and a track record of successful leadership in financial operations from leading multinational technology companies. We are confident that his expertise will guide WiSA in shaping its financial future," Moyer stated.
Joining the WiSA Family
Expressing his excitement, Mr. Mbugua remarked, "I am thrilled to join the WiSA team. This company is in a transformative period, and I look forward to working with the management to harness opportunities for significant growth and innovation.”
Stanley Mbugua’s Professional Journey
Before joining WiSA Technologies, Mr. Mbugua served as the Chief Accounting Officer at Presto Automation, Inc., a company known for its cutting-edge AI and automation solutions for the restaurant industry since March 2023. His versatile career includes serving as Chief Accounting Officer at Skillz, Inc., a renowned mobile video game competition platform, from September 2021 to March 2023. Prior to that, he was with Rimini Street Inc., a notable enterprise software support provider, between September 2017 and June 2021.
His experience extends to leadership roles as Senior Director and Corporate Controller at various esteemed companies, including Lattice Semiconductor and Silicon Image. Mr. Mbugua is also a certified public accountant and holds a bachelor’s degree from the University of Nairobi, providing him a solid foundation for his upcoming responsibilities at WiSA Technologies.
Financial Inducement Package
As part of his appointment, Mr. Mbugua has been granted 70,000 shares of restricted stock in WiSA Technologies. This financial inducement reflects the company’s commitment to attracting top talent. Approved by the company's compensation committee, the stock award falls outside of the 2020 Stock Incentive Plan and adheres to Nasdaq Listing Rule 5635(c)(4). The shares will vest over a 36-month period, beginning on December 20, 2024.
About WiSA Technologies, Inc.
WiSA Technologies is recognized as a leading provider of immersive, wireless sound technology tailored for intelligent devices and next-generation home entertainment systems. Collaborating with top brands like Harman International (a division of Samsung), LG, Hisense, TCL, and Bang & Olufsen, the company focuses on delivering immersive sound experiences across various mediums such as movies, music, gaming, and esports.
As a founding member of the Wireless Speaker and Audio Association (WiSA™), WiSA Technologies is dedicated to establishing standards for wireless audio interoperability. The company's mission also involves partnering with leading consumer electronics companies and technology providers to advance and promote spatial audio technologies. WiSA Technologies is headquartered in Beaverton, Oregon, with sales operations extending to Taiwan, China, Japan, Korea, and California.
Frequently Asked Questions
Who has been appointed as VP of Finance at WiSA Technologies?
Stanley Mbugua has been appointed as the Vice President of Finance at WiSA Technologies.
What are Mr. Mbugua's prior experiences before joining WiSA?
Mr. Mbugua served as the Chief Accounting Officer at Presto Automation, Inc., Skillz, Inc., and Rimini Street Inc., among other roles.
What is Mr. Mbugua's educational background?
Mr. Mbugua holds a bachelor’s degree from the University of Nairobi and is a certified public accountant.
What financial inducement package was given to Mr. Mbugua?
Mr. Mbugua has been granted 70,000 shares of restricted stock as part of his employment package.
What does WiSA Technologies specialize in?
WiSA Technologies specializes in wireless sound technology for intelligent devices and home entertainment systems, collaborating with leading consumer electronics brands.
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