Optiva Announces Interim Management Changes

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Optiva Announces Interim Management Changes

Canada NewsWire

TORONTO, July 2, 2020 /CNW/ - Optiva Inc. ("Optiva" or the "Company") (TSX:OPT), a leader in providing communications service providers (CSPs) worldwide with cloud-native revenue management software on the public cloud, today announced that in connection with its previously announced redemption of the Company's preferred shares and concurrent secured debenture offering, Robert Stabile, lead independent director of the Company, has assumed day-to-day oversight on behalf of the Company's Board of Directors of the Company's senior executive team on an interim basis to ensure a smooth transition to closing of the transaction and the appointment by the Company of a new Chief Executive Officer.  In this role, Mr. Stabile is working closely with the Company's senior executive team to ensure a smooth and seamless transition to a new Chief Executive Officer and that the Company's customer relationships remain unaffected during this interim period.  

The Company's Board of Directors previously engaged an executive search firm to conduct a search for a new Chief Executive Officer. The Board has interviewed a number of highly qualified, exceptional candidates, and is pleased with the interest in the position that the Board has received. The Board will be expeditiously moving forward to choose a new Chief Executive Officer in the coming weeks.

As announced on May 11, 2020, the Company's Chief Executive Officer, Danielle Royston, previously provided notice of her resignation, effective August 9, 2020.  In light of the transitional arrangements now in place, the effective date of Ms. Royston's departure occurred on June 29, 2020.  

To further support the Company's transition to its new Chief Executive Officer, the Company's Board has also retained Vishal Kothari as a consultant on an interim basis for the transition period.  Mr. Kothari was previously the Chief Operating Officer of the Company and was responsible for global sales, delivery and support organizations.  Mr. Kothari will assist the Board on an interim basis pending the appointment of the Company's new Chief Executive Officer, including to ensure that the Company continues to consistently meet or exceed the needs and desires of its customers. 

About Optiva Inc.:

Optiva Inc. is the leader in providing communication service providers (CSPs) worldwide with cloud-native revenue management software on the public cloud. Operators and MVNOs can integrate our best-of-breed charging engine into a BSS stack or deploy our fully managed, end-to-end, SaaS-based suite. Optiva solutions offer unmatched speed, scale, security and savings. Our market knowledge, analytical insights and unique Customer Success Program ensure telecoms are equipped to achieve their strategic business goals. Established in 1999, Optiva Inc. is on the Toronto Stock Exchange (TSX: OPT). For more information, visit www.optiva.com.

SOURCE Optiva

Cision View original content: http://www.newswire.ca/en/releases/archive/July2020/02/c0936.html

Copyright CNW Group 2020

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).