Telit Communications plc (AIM: TCM), a global leader in machine-to-machine (M2M) communications, announces changes to the Board of Directors.
Massimo Testa, Non-executive Director, is leaving the board with immediate effect, due to an increased workload from his other activities.
Alexander Sator, Managing Director of Sapfi Kapital Management GmbH, will be joining the board as a Non-executive Director with immediate effect.
Alexander Sator (aged 40), was a co-founder of one of the first software companies in Germany in 1983, while still in his teens. After a short career in the scientific industry he founded Sator Laser in 1996, which focused on the development of lasers and laser systems for industrial applications, soon becoming market leader for its specific field. In 2001 Domino Printing Services took a stake in this business and in 2005 Mr. Sator sold his remaining shares. Over the last two years Mr. Sator has been Strategy Advisor to the Deutsche Telekom AG for the mobile business.
Sapfi Kapital Management GmbH, of which Alexander Sator is Managing Director and majority shareholder, is the beneficial owner of 5,555,742 ordinary shares of 1 penny each of Telit Communications, representing approximately 7.2 per cent. of the issued share capital.
Present directorships or partnerships
Breuer Nachrichtentechnik GmbH
Sapfi Kapital Management GmbH
Past directorships or partnerships
Domino Printing Science plc
Alexander Sator was appointed to the board of Cinterion Wireless Modules Holding Gmbh ("Cinterion") in 2008. An order for the compulsory winding up of Cinterion was made on 7 May 2010.
This announcement includes all information required to be disclosed under Rule 17 and Schedule 2 (g) of the AIM Rules for Companies.
Oozi Cats, CEO of Telit Communications commented "We are delighted to welcome Alexander Sator to the board. His great knowledge of technology and vast experience in the wireless market will be of great benefit to the Company going forward. We would like to thank Massimo Testa for contributions to Telit during his tenure as director, and we wish him well with his other business interests."