Digi International Inc. Announces Ceo Retirement Plans
The following excerpt is from the company's SEC filing
(Minneapolis, MN, April 23, 2014)Digi International® Inc. (NASDAQ: DGII,
www.digi.com) announced that Joseph T. Dunsmore, President, Chief Executive Officer and Chairman of the Board, has informed the Board of Directors that he will retire from his positions effective December 31, 2014 or upon the earlier
appointment of his successor. The Board has engaged a global executive search firm, Spencer Stuart, to assist in finding a new President and Chief Executive Officer.
Dunsmore, 55, joined Digi in October 1999 as President and Chief Executive Officer and a member of the Board of Directors and was elected Ch
airman of the
Board in May 2000.
Ahmed Nawaz, the independent Lead Director of the Board, said Dunsmore was responsible for changing the direction of the Company
during his tenure. Joe has led Digi through a period of unprecedented change in the market for our products, and initiated our transformation to a company focused on providing high-quality machine-to-machine networking solutions. Joe is a
tremendous leader, he is committed to Digi, its customers, employees and other constituents, and he is a model of professional and business integrity, said Nawaz. The Board remains committed to our current strategy for growing Digi, and
our next CEO will build on the good work that Joe has done. I am delighted that Joe has agreed to remain CEO through the end of the year to facilitate a smooth transition.
I want to thank the Board for its support and encouragement as we transformed Digi over the last fifteen years, Dunsmore said. Its
been a fulfilling experience and Im very proud of what we have accomplished. The company is very well positioned for the next phase of growth in the wireless M2M marketplace. I am looking forward to the next chapter of my life and an
opportunity to pursue other avenues for my personal and professional growth. I have committed to stay at Digi for the remainder of 2014, during which time I will continue to focus on our strategy and effect a smooth leadership transition.
Digi International is the M2M
expert, combining products and services as end-to-end solutions to drive business efficiencies. Digi provides the industrys broadest range of wireless products, a cloud computing platform tailored for devices and development services to help
customers get to market fast with wireless devices and applications. Digis entire solution set is tailored to allow any device to communicate with any application, anywhere in the world. For more information, visit Digis website at
www.digi.com, or call 877-912-3444.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here. Digi International Inc. next reports earnings on April 24, 2014.
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