KORE Names Paul Holtz as Chief Financial Officer
KORE Group Holdings, Inc. (NYSE: KORE) (NYSE: KORE WS) (“KORE” or the “Company”), a global leader in Internet of Things (IoT) solutions and worldwide IoT Connectivity-as-a-Service (“CaaS”), today announced that Paul Holtz, who had been serving as the Company’s interim Chief Financial Officer, has been named KORE’s Executive Vice President, Chief Financial Officer and Treasurer.
“After a comprehensive search, we are pleased to name Paul as our CFO going forward,” commented Romil Bahl, President and CEO of KORE. “Since joining KORE five years ago, Paul has continually proven his ability to deliver results and create value across the finance and accounting functions. As we deliver on our promise to be the pure-play IoT company helping enable the ‘Decade of IoT’, I couldn’t be more confident in Paul’s ability and his knowledge of our growth dynamics – and more importantly, in Paul’s ability to partner with me and collaborate with our Executive Leadership Team and Board of Directors in a constructive and positive way to drive our growth story.”
Mr. Holtz has been serving as interim CFO since November 2021. He joined KORE in March 2017 and holds extensive public company experience in the technology and SaaS space. Mr. Holtz’s role at KORE has been integral to the Company’s focus on service delivery and the optimization of financial performance. Prior to joining KORE, Mr. Holtz served in various roles at Blackberry, most recently as Head of Finance for the office of the Chief Operating Officer. Mr. Holtz received his bachelor’s degree in Business Administration and Accounting from Wilfrid Laurier University. He is also a member of the Chartered Professional Accountants of Canada.
“The Board of Directors is delighted with the appointment of Paul Holtz as CFO,” said Tim Donahue, Chairman of the Board. Dr. Cheemin Bo-Linn, KORE Independent Director and Audit Committee Chair said “having worked directly with Paul, we continue to be impressed with the performance and expertise that he has demonstrated in his previous roles.” Added Bo-Linn, “being able to leverage such world-class talent from within KORE speaks volumes to the depth of talent being developed across the KORE organization. I look forward to continuing to work together to deliver shareholder value.”
“I am very pleased to accept this role at such an exciting time for the company,” commented Mr. Holtz. “KORE is extremely well-positioned for growth in the coming decade, and I intend to do everything in my control to continue to execute on our strategic growth plans and deliver meaningful results.”
About KORE
KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. For more information, visit www.korewireless.com.
Cautionary Note on Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, the Company’s plans regarding the transition of CFO duties, the execution of strategy and future growth and financial results. These statements are based on various assumptions and on the current expectations of KORE’s management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE’s business and the timing of expected business milestones; changes in the assumptions underlying KORE’s expectations regarding its future business; the effects of competition on KORE’s future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE’s expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipate that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Contacts
KORE
Media and Investors:
Vik Vijayvergiya
Vice President, Investor Relations
or
Investors:
Matt Glover, Alex Thompson
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+1-949-574-3860
