Sierra Wireless announces the planned retirement of president and CEO Kent Thexton

Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the leading IoT solutions provider, today announced that Kent Thexton plans to retire from his position as President & CEO. Kent has committed to remain with the Company until June 30th to allow his successor to be hired and to support an orderly transition. The Board of Directors have commenced a process to find Kent’s successor and have engaged a top tier executive search firm to undertake a search for his replacement.

In May 2018, Kent moved from Chair of the Board of Directors into the role of President & CEO of Sierra Wireless to help lead the Company’s transformation from an IoT module provider, to an end-to-end IoT solutions provider. During the past two and a half years, Sierra Wireless has built a broad portfolio of IoT Solutions offerings, including Cellular Connectivity, Enterprise Software as a Service, IoT Applications and Managed Network Services. Under Kent’s leadership, Sierra Wireless is now positioned for growth and to continue to lead the IoT solutions market. When Kent started in the CEO role, Recurring & Other Services revenue was 12% of total revenue, and in the Third Quarter of 2020 recurring revenue had increased to 26% of total revenue.

“Kent has been a valuable and tireless leader for Sierra Wireless in both his roles as Chair of the Board and as President & CEO,” said Robin Abrams, Chair of the Board of Directors. “We want to thank him for his strong efforts in transforming the business and we wish him the best in his retirement.”