Phunware Inc (NASDAQ:PHUN) announced that its chief revenue officer, Mike Snavely, has been appointed as the company’s new CEO, effective immediately.
The enterprise cloud platform for mobile said Snavely brings 20 plus years of leadership experience at technology companies, having previously led the Software business at Phunware and several other technology companies such as Sonic Foundry (NASDAQ:SOFO), Mutual Mobile and Bazaarvoice.
"We intend to build on our base of world-class customers and expand access to and usage of Phunware’s technology and intellectual property portfolios across direct customers and partner companies," Snavely said in a statement.
"We also intend to reignite our digital assets ecosystem strategy within the confines of applicable laws and regulations," he added.
Phunware noted that former CEO Russ Buyse has moved into a consulting role with the company and board member Kathy Tan Mayor has elected to resign from Phunware’s board, effective today.
The company also stated that it is augmenting its revenue model to encompass new ways of directly and indirectly monetizing its portfolio of patents and other IP and economic interests in other IP, which includes AI as part of its product offerings, in addition to strengthening and leveraging its software distribution network with channel, distribution and integration partners such as Cox Business and Siemens Connect.
Phunware added that it is also evaluating the evolving business and regulatory landscapes to determine the appropriate evolution and expansion of its digital asset ecosystem for contextual engagement.
The company said it expects to publish details on how it will work to achieve this vision in the coming week.
Phunware is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale.
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