Mr. Cortens has been CFO of IRD since
2012
KITCHENER, ON, Oct. 22, 2019 /PRNewswire/ - Quarterhill Inc.
("Quarterhill" or the "Company") (TSX: QTRH) (NASDAQ: QTRH) today
announced that the Company's Board of Directors has appointed
David Cortens, currently CFO at
International Road Dynamics ("IRD"), as Quarterhill's interim Chief
Financial Officer ("CFO"), effective immediately. Shaun McEwan, Quarterhill's outgoing CFO, will
remain with the Company until the end of 2019 to effect a smooth
transition.
Mr. Cortens is a Chartered Professional Accountant with more
than 35 years of experience in finance-related roles with public
and private companies. Prior to this announcement he has been the
CFO at IRD, a position he has held since 2012. Prior to joining
IRD, Mr. Cortens has had significant public company experience
having acted as CFO for various public companies including
Novozymes BioAg Limited, an Ag-biotech company and C.M. Oliver
Inc., a registered investment dealer. Mr. Cortens received his
B.Comm in Accounting from the University of
Manitoba in 1978 and his Chartered Accountant designation in
1981.
"We are very pleased to have someone of David's caliber step
into this role," said Rick Shorkey,
Chair of the Quarterhill Audit Committee. "He is an experienced
public company CFO and has been a member of the Quarterhill family
since our acquisition of IRD in 2017. Our shared history should
help to facilitate a smooth transition."
About Quarterhill
Quarterhill is focused on the
disciplined acquisition, management and growth of companies in
dedicated technology areas including, vertical market software and
solutions, intelligent industrial systems, and innovation and
licensing. Quarterhill's emphasis is on seeking out acquisition
opportunities at reasonable valuations that provide a foundation
for recurring revenues, predictable cash flows and margins,
profitable growth, intimate customer relationships and dedicated
management teams. Quarterhill is listed on the TSX and NASDAQ
under the symbol QTRH. For more information:
www.quarterhill.com.
Forward-looking Information
This news release contains
forward-looking statements and forward-looking information within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and other United States and
Canadian securities laws. Forward-looking statements and
forward-looking information are based on estimates and assumptions
made by Quarterhill in light of its experience and its perception
of historical trends, current conditions, expected future
developments and the expected effects of new business strategies,
as well as other factors that Quarterhill believes are appropriate
in the circumstances. Many factors could cause Quarterhill's actual
performance or achievements to differ materially from those
expressed or implied by the forward-looking statements or
forward-looking information. Such factors include, without
limitation, the risks described in Quarterhill's February 28, 2019 annual information form for the
year ended December 31, 2018 (the
"AIF"). Copies of the AIF may be obtained at www.sedar.com
and as part of Quarterhill's Form 40-F for the year ended
December 31, 2018 filed with the U.S.
Securities and Exchange Commission and available at www.sec.com.
Quarterhill recommends that readers review and consider all of
these risk factors and notes that readers should not place undue
reliance on any of Quarterhill's forward-looking statements.
Quarterhill has no intention, and undertakes no obligation, to
update or revise any forward-looking statements or forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by law.
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SOURCE Quarterhill Inc.