MARKHAM, ONTARIO, February 27, 2023 – Sangoma Technologies Corporation (TSX: STC; Nasdaq: SANG) (“Sangoma” or the “Company”), a trusted leader in delivering cloud-based Communications as a Service solutions for companies of all sizes, today announced that its Board of Directors (the “Board”) has appointed Norman Worthington, Chair of the Company’s Board, as Interim Executive Chairman, effective immediately. Mr. Worthington succeeds Bill Wignall, who is no longer with the Company. The Board will immediately begin a search for a permanent CEO.
Mr. Worthington has over 30 years’ experience as an executive and founder within the software and software enabled services industry. Mr. Worthington previously held the position of Founder, Executive Chairman & Chief Executive Officer for Star2Star Communications- a cloud-native communications, collaboration, and integration solutions provider- which was acquired by Sangoma in 2021. Mr. Worthington received an undergraduate degree from New College of Florida and a law degree from Northwestern School of Law, Lewis & Clark College.
With Mr. Worthington taking on an executive role, the Board has also appointed Allan Brett to serve as lead independent director. In addition to Bill Wignall departing as President, CEO and director, David Moore has departed as EVP, Corporate Development with immediate effect.
“I appreciate the opportunity to serve in this role while the Board conducts a search for Sangoma’s next CEO,” said Mr. Worthington. “I am looking forward to partnering with Sangoma’s leadership team to ensure we continue to execute on behalf of our stakeholders as we build towards a pure SaaS business.”
“On behalf of the Board, I would like to thank Bill for his leadership during his tenure, including the Company’s evolution from hardware to a software, and now a SaaS business. He set the stage for Sangoma’s next phase of growth,” said Allan Brett. “We wish him nothing but the best.”
Fiscal Year 2023 Outlook
Management is reiterating its fiscal year guidance of revenue of $250 – $260 million and Adjusted EBITDA1 of $46 – $49 million.