Inseego Corp. (INSG) Announces Chairman Transition

Inseego Corp. (Nasdaq: INSG) (“Inseego” or the “Company”), a technology leader in 5G mobile and fixed wireless solutions for mobile network operators, Fortune 500 enterprises, and SMBs, today announced that Phil Brace is stepping down from his role as Executive Chairman of the Company’s Board of Directors, effective immediately, in order to serve as CEO and board member of Skyworks Solutions, Inc., a S&P 500 company.

Under Brace’s leadership, Inseego completed a major overhaul of the Company’s capital structure to reduce total debt and improve the Company’s liquidity, successfully divested its non-core international telematics business, and strengthened the Company’s management team with a number of key executive and functional hires, capped-off with the addition of Juho Sarvikas as the Company’s new Chief Executive Officer last month.

Jeff Tuder has been appointed as independent Chairman of the Company’s Board of Directors, effective immediately. Tuder has served on Inseego’s Board of Directors since 2017 and previously served as Chairman of the Board from August 2022 to February 2024, when Brace took-on the newly-created Executive Chairman role.

“I’m proud of the team and the transformation that we’ve driven together at Inseego over the past 15 months,” said Brace. “I believe Inseego is well-positioned to continue to enhance its position in the wireless marketplace and drive additional expansion of stockholder value. Juho is a tremendous industry leader and executive to drive the Company’s next phase of growth and innovation.”

“I’m honored to take-on the Chairman role at Inseego,” said Tuder. “On behalf of the Board, I want to thank Phil for his exceptional leadership and contributions as Executive Chairman this past year. Phil joined the board at an important time for the Company and agreed to step into the Executive Chair role shortly thereafter. Inseego achieved extraordinary progress during his tenure, and I know I speak for everyone at the Company in expressing our gratitude and in wishing Phil tremendous success at Skyworks.”

“I am excited about the path ahead at Inseego and I’m committed to driving continued value creation for our stockholders," said Juho Sarvikas, Inseego’s Chief Executive Officer. "On behalf of the entire management team and all of Inseego’s employees, many thanks to Phil for his excellent leadership and laying a strong foundation for growth and success going forward. I am looking forward to working closely with Jeff and my fellow Board members as Inseego continues to execute on its mission to become the leading provider of wireless connectivity solutions."

As part of its ongoing nominating and governance process, the Board is in active dialogue with candidates with relevant industry and operating experience to join the Board of Directors.

The Company also announced today that there was no change to its financial guidance for the fourth quarter of 2024, ended December 31, 2024 (which was provided on November 12, 2024). The Company will report its fourth quarter and full-year 2024 financial results on February 19, 2025, as previously announced on January 23, 2025.

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