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Be the first with the news that moves the market- Technology holding company, Quarterhill (TSX:QTRH) has appointed Paul Hill as its President and Chief Executive Officer
- Paul is the CEO of software company Carta Worldwide, and will remain so until commencing at Quarterhill in June, 2020
- Quarterhill’s previous CEO, Doug Parker, resigned in October last year, after failing to sufficiently progress the company’s asset acquisition strategy
- With the acquisition strategy on hold during COVID-19, Paul’s immediate focus will be improving Qaurterhill’s current portfolio of technology companies
- Quarterhill (QTRH) is down 0.57 per cent, with shares trading for C$1.75 and a market cap of $208 million
Technology holding company, Quarterhill (TSX:QTRH) has appointed Paul Hill as its President and CEO, effective June 1, 2020.
Paul is currently the CEO of software company Carta Worldwide and will remain in that position until commencing at Quarterhill.
Quarterhill’s previous CEO, Doug Parker, resigned in October of last year. His resignation came after he failed to sufficiently progress the company’s asset acquisition strategy.
The Board stated they originally hired Doug for his diversification experience. However, after almost two years with no new acquisitions, they had to look elsewhere.
John Gillberry, Chair of Quarterhill’s Board of Directors, believes that Paul is the best choice, after searching extensively.
“He is a seasoned executive with solid operational experience as a CEO of technology companies. Paul’s deep industry knowledge, energy, experience and reputation will enable Quarterhill to continue its growth and development as a diversified investment holding company,” he said.
John went on to say that Paul’s initial focus will be on improving Qaurterhill’s current portfolio of technology companies.
Due to the ongoing COVID-19 pandemic, the company’s planned acquisition strategy is on hold. However, if the company begins acquiring assets once the pandemic subsides, Paul will lead the strategy moving forward.
Paul said he was thrilled to be part of Quarterhill’s story and looks forward to building on the team’s work to date.
Alongside this news, the company announced it is exploring new ways to return capital to its shareholders and will release the findings with its first quarter results on May 21, 2020.
Quarterhill (QTRH) is down 0.57 per cent, with shares trading for C$1.75 at 2:19pm EDT.
