Purflit (NASDAQ and Tel Aviv: PWFL), A provider of wireless IoT solutions and M2M solutions for subscribers, security, control, tracking and management of valuable mobile resources for organizations, such as, commercial trucks, trucks, trailers, containers and vehicle fleets, reports that it has appointed Steve Tuo, an experienced leader in the software industry, as CEO To the new company. Tuo replaces Chris Wolf, who decided to retire after serving as CEO since December 2016. Tuo has also been appointed to the company’s board of directors.
With proven experience in creating significant growth in global technology organizations, Tuo joins Powerflit from Aptos, a global leader in unified trading solutions in the SaaS retail market, where he has successfully served as President and VP of Operations for the past five years.
In the past, he has held a number of positions, both in listed companies and in private companies, and has accumulated more than 16 years of experience in strategic leadership in the global SaaS IoT market. Most notable is his role as VP of Commercial Operations for Masternaut, a global telematics provider, where his work could be seen in creating strong growth, both in revenue and profitability, during his tenure from 2011 to 2016.
In addition, Tuo served as CEO of the telecom telecommunications company Cybit, which made numerous acquisitions during his tenure, leading the company to significant international organic growth while consolidating the market. He has also held senior management positions in the Fleetstar Information Systems fleet management subsidiary.
“I am excited to join Powerflight and continue to add to its impressive capabilities and experience in the market,” Tuo said. “As CEO, I strive to leverage my IoT background and SaaS expertise and enhance Powerflit’s value proposition and organizational strength in order to significantly impact the complex global industries we serve and the broad clientele we work with.”
“I join Powerflit while the customers we work with are undergoing an extraordinary change,” Tuo added. “As a result of the challenges posed by the epidemic, the powerflight mission has become even clearer and more purposeful. We are here to play a critical role for our customers as they accelerate their digital transformations and use of fully integrated data solutions to create more unified and effective business operations and achieve full visibility across all of their supply chains. I believe that Powerflit is well positioned as a leader in the global IoT market, which is expected to grow by an average of 34% annual growth and will reach $ 58 billion in 2025, according to Gartner. “
Chairman of the Powerflight Board of Directors, Michael Brodecki, said: “On behalf of the Board of Directors, I would like to thank Chris for his service and contribution to Powerflight over the past five years. I’m happy to have Steve as the company’s new CEO. Steve joins our organization at a time when there is strong operational and financial momentum, a stable balance sheet and abundant growth opportunities. Steve has an impressive history of empowerment and change in organizations in the software industry that have delivered exceptional results for customers, employees and shareholders. “With Steve’s skill set, from building world-class teams to successfully implementing multiple strategic acquisitions, and creating customer-focused fruitful actions, we are confident he’s best suited to take Powerflight to the next level of software innovation and accelerate strong growth.”