I.D. Systems, Inc. (NASDAQ: IDSY) has announced the election of a new board of directors on June 20, 2014, at its annual meeting of stockholders
Following the meeting, the new board appointed company co-founder and president, Kenneth Ehrman, as chairman of the board and chief executive officer of the company, effective June 20, 2014.
Ehrman has been I.D. Systems´ interim CEO since March 2, 2014, and president since he co-founded the company in 1993. Prior to his re-election to the board on June 20, 2014, Ehrman served as a director of the company from its inception to 2013. He also serves as a member of the board of directors of Financial Services, Inc., a privately held provider of data processing solutions for banking. Ehrman graduated from Stanford University with a Bachelor of Science degree in Industrial Engineering.
“The new board of directors believed it was important to act swiftly in appointing a CEO to help ensure stability and continuity in the organization,” said Michael Brodsky, lead independent director of I.D. Systems. “Ken brings the right blend of talent, industry experience, and leadership to the role of CEO. We are confident he is the right leader to guide the company into its next stage of growth and profitability.”
Headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom, I.D. Systems, Inc. is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including industrial vehicles, rental cars, trailers, containers, and cargo. The company´s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. For more information, visit www.id-systems.com.