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Archive 2002NovAtel Executive Appointments Reflect Growth Strategy
(Calgary, Alberta, Canada, May 23, 2002) - Jonathan Ladd, President and CEO of NovAtel Inc. (NASDAQ: NGPS), is pleased to announce the appointments of Patrick Fenton to the position of Chief Technology Officer (CTO), Tony Murfin to the position of Vice President, Business Development, and Graham Purves to the position of Vice President, Sales. “These appointments support NovAtel’s growth strategy,” said Ladd. As CTO, Mr. Fenton will focus on several new strategic technology initiatives that will be the receiver for the Company’s expanding product portfolio and increasing market share. He previously held the position of Vice President, Technology at NovAtel. He has been with the Company since 1989. Mr. Fenton holds a key role in developing core products for NovAtel that have positioned the Company on the leading edge of GPS technology. He made his mark on the GPS industry as inventor of the Narrow Correlator® technology. This technology and follow-on multipath reduction techniques have revolutionized the accuracy of the public accessible C/A code GPS signal, leading the way to sub-meter positioning. Mr. Murfin will continue to be responsible for the Company’s Aviation product lines and maintaining a leading position in this market sector. His new responsibilities include driving business expansion through acquisitions, new and existing joint ventures and subsidiaries, and teaming arrangements in new markets. Mr. Murfin previously held the position of Director, Aviation at NovAtel. He has been with the Company for eight years. His pivotal role in establishing NovAtel’s WAAS receiver has resulted in key programs in the US, Japan, Europe and China. His most recent accomplishments include the NovAtel LAAS receiver programs, receiver development programs for the new European Galileo satellite navigation system, and the GPS/MEMS integration program. As VP, Sales, Mr. Purves will be responsible for reestablishing and expanding the Company’s distribution channels and overall sales strategy. He was previously VP, Sales & Marketing with responsibility for OEM operations. Mr. Purves has been with NovAtel since 1988 and has held key roles in Engineering, Operations, Product Development and Sales. Mr. Purves was also responsible for securing the relationships with BEELINE Technologies, Inc. and Leica Geosystems AG. In his new role he will continue to develop these key accounts while expanding NovAtel’s global sales presence. NovAtel Inc. designs, markets and supports a broad range of products that determine precise geographic locations using the Global Positioning System (GPS) and is the principal supplier of reference receivers to WAAS ground networks around the world. NovAtel’s GPS products are used principally for applications in precision markets such as the surveying, geographic information systems, aviation, marine, mining and machine control, agriculture and precise timing markets. For further information please visit our website at www.novatel.com Certain statements in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the Company's industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, operating results of subsidiaries and joint ventures, establishing and maintaining effective distribution channels, certification and market acceptance of the Company's new products, impact and timing of large orders, pricing pressures in the market and other competitive factors, maintaining technological leadership, timing of revenue recognition in connection with certain contracts, the ability to maintain supply of products from subcontract manufacturers, the procurement of components to build products, and the impact of industry consolidations, together with the other risks and uncertainties described in public filings.
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