Martin Hiscox Appointed Chairman and CEO of Masternaut

LONDON, June 28, 2012 /PRNewswire/ --

Leading Pan-European software provider of on demand telematic solutions, Masternaut, today announced that Martin Hiscox has been appointed Group chairman and chief executive officer. Martin previously served on the Masternaut board for two years, working closely with the senior management team. In his new role, Martin will be responsible for steering the company towards continued growth, cementing Masternaut's position as the pan-European market leader in telematics-based solutions for mobile resource management.

Martin has more than 25 years' industry experience including a solid track record of working with b2b software and technology companies to reach their maximum potential. Prior to joining Masternaut, Martin spent five years as vice chairman of the board and seven years as president of international operations for RedPrairie, a US-headquartered supply-chain, workforce and distribution software specialist. During his tenure, RedPrairie experienced accelerated growth, extending its reach into Asia, throughout Europe, Middle East and Africa, growing annual revenues by more than 4 fold in the period.

At Masternaut, Martin's ambitions are to rapidly double the company's SaaS revenue organically and through acquisitions, expand its leadership globally, grow its best-in-class product portfolio, and leverage M2M and other software productivity applications to assist its customers in improving their operational performance.

Martin is supported by a newly formed management team which includes Steve Towe, European managing director and the following new executive appointments which further bolster Masternaut's leadership team:

• Paul Bosson has recently joined Masternaut as Chief Financial Officer responsible for all financial and legal matters, investor relations, banking and mergers & acquisitions.  Previously, Paul was Chief Financial Officer of Sophis, the leading international risk management software business backed by Advent International, which was successfully sold to Misys plc last year.  Over the last 10 years, Paul has worked as Chief Financial Officer for several private equity backed technology businesses.
• Alex Rothwell, who joins Masternaut as chief technology officer from TomTom, will lead development of Masternaut's award-winning b2b telematics software platform, along with engineering the next-generation of market leading products; and
• Eugene Sweeney, who joins as director of operations with more than twenty years' experience in similar roles within industrial, engineering and manufacturing companies including Celestica and ICL.  

Commenting on his appointment, Martin said: "As Europe's market leader, Masternaut has gone from strength-to-strength, and it is well-positioned to meet growing customer demand for robust, easy-to-deploy solutions that provide deep business intelligence, helping customers to minimise costs and maximise profitability. We employ over 500 telematics professionals, supply services to more than 10,000 customers and have over a quarter-of-a-million assets, vehicles and people connected to our SaaS solutions. We process over 45 million data transactions with over 12,000 users interacting hourly with our systems, and send a further 16,500 reports each day. This positions Masternaut as the lowest risk provider of telematics solutions. With this momentum we are firmly set on continuing to out-perform the competition and expand into new markets."

Martin continued: "The management team and I are committed to taking Masternaut to the next level, increasing the value of the brand by serving as a strategic solutions partner to leading fleet, logistics and transport companies around the world."

Martin holds an M.B.A. from Henley Management College and Brunel University , a higher national certificate in Computer Studies from the University of Surrey, and is a Chartered IT Professional and member of the British Computer Society.

About Masternaut: http://www.masternaut.com

Images to accompany the news:

Martin Hiscox: http://dl.dropbox.com/u/83685035/Martin-Hiscox.jpg

Masternaut logo: http://dl.dropbox.com/u/83685035/Logo.jpg

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