Attention Business Editors:
NOVATEL ANNOUNCES RESIGNATION OF CEO
CALGARY, Aug. 11 /CNW/ - NovAtel Inc. (NASDAQ: NGPSF) today announced
that President and Chief Executive Officer Pascal E. Spothelfer has advised
the Board of Directors of his intention to leave to pursue other career
opportunities.
''Pascal will remain for the period of time required to ensure a proper
transition of the operations,'' said William I.M.Turner, Jr., Chairman of the
Board. ''An announcement of the future governance of NovAtel is expected
within the next few weeks.''
''We want to thank Pascal for his guidance and many contributions to
NovAtel during his tenure,'' added Turner, ''and we wish him well in all his
future endeavours.''
NovAtel Inc. designs, markets and supports a broad range of products that
determine precise geographic locations using the Global Positioning System
(''GPS''). NovAtel's GPS products are used principally for applications in
high-end markets such as surveying, geographic information systems, aviation,
marine, mining and machine control and agriculture.
Certain statements made in this press 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, 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 and maintaining technological
leadership, together with the other risks and uncertainties described in
public filings.
-0- 08/11/98
For further information: Pascal E. Spothelfer, (403) 295-4597, William I.M. Turner, Jr., (514) 982-0188 |
