REDWOOD SHORES, CA — (Marketwired) — 10/01/14 — iPass Inc. (NASDAQ: IPAS), the leading provider of Wi-Fi connectivity services to enterprises, telecommunications carriers, service providers and device manufacturers, today announced that Michael Tedesco has been appointed to the company–s board of directors.
Simultaneously, the company today announced that Peter Clapman and Samuel Schwerin have resigned from the board of directors. Mr. Clapman, who is departing for personal reasons, said “I am in agreement with, and support, the decisions and priorities of the board of directors as well as the direction and actions of the senior management of iPass.” The board does not plan on adding a sixth director while considering its strategic alternatives.
“We welcome Michael to the board and believe his extensive experience in financial advisory, investment banking and M&A, will greatly augment the board and provide key support as we execute our strategy moving forward,” said Evan Kaplan, president and chief executive officer of iPass. “We would like to thank Peter and Sam for their guidance during the company–s transition to a pure-play Global Wi-Fi roaming business, and their substantial contributions to the direction and strategy of the company to date.”
“I greatly appreciate the opportunity to serve on the iPass board of directors,” said Michael Tedesco. “I believe that the rapidly expanding market for Wi-Fi products and services is compelling and iPass is well positioned to take advantage of that opportunity. I look forward to collaborating with other members of the board and management, and to contributing to the continued success of the company.”
Mr. Tedesco is currently chief strategy officer and board member of Volo International, Inc. Previously, he served as Head of US M&A and Global Technology M&A at Jefferies, a leading growth-oriented independent investment bank. Prior to Jefferies, Mr. Tedesco spent his career at Citigroup and its predecessor Salomon Brothers, serving in roles including head of Global Technology M&A and Co-Head of Americas Technology Banking. For the past decade, Mr. Tedesco has advised boards and CEOs on high profile, complex transactions for technology companies both large and small.
Mr. Tedesco has an MBA from Harvard Business School, where he was a Baker Scholar and the John Loeb Finance Fellow, and a BS from Montana State in Industrial Engineering. He is an active private investor and advisor to early stage, disruptive companies. He also serves on the board of GeoScale, a software provider for oilfield exploration.
iPass enables business travelers to stay connected by providing them with cost-effective and convenient global Wi-Fi access across smartphones, tablets and laptops. Founded in 1996, iPass (NASDAQ: IPAS) is the world–s largest , covering over 120 countries and territories and selling to over 700 large corporations, telecom service providers and other strategic partners around the world. Through its cloud-based delivery model, iPass connects business travelers to over 13 million Wi-Fi hotspots in airports, airplanes, hotels and public areas. With the growing need for fast, high bandwidth connectivity, iPass lets business travelers stay close to what matters most while on the road including access to video, unified communications, web conferencing and other cloud based apps.
iPass® is a registered trademark of iPass Inc. Wi-Fi® is a registered trademark of the Wi-Fi Alliance. All other trademarks are owned by their respective owners.
You must be logged in to post a comment Login