KORE Announces Appointment of Bruce Gordon as Executive Vice President and Chief Operating Officer

ATLANTA, July 8, 2024 /PRNewswire/ — KORE Group Holdings, Inc. (NYSE:KORE) (“KORE,” “Company,” “we,” or “our”), a global leader in Internet of Things (“IoT”) solutions and a pioneer in IoT hyperscale, announced that Bruce Gordon joined us as Executive Vice President and Chief Operating Officer (COO), July 2, 2024.

Gordon has more than three decades of experience in the technology sector, holding a number of senior leadership positions. Most recently, he served as CEO and Executive Chairman of GeoDigital, a provider of 3D services and geospatial intelligence software. Previously at ABB Ventyx (formerly Mincom), Gordon served as Senior Vice President, Business Solutions. Prior to that, Gordon served as CTO of Infor, a leading enterprise software company, overseeing technology strategy during a significant period of growth that included the acquisition and integration of 27 companies, and as COO of Descartes, where he led a significant business transformation.

“I am excited to join KORE and lead our operational strategies during this exciting period of anticipated growth. With a focus on innovation and customer-centric solutions, I look forward to working with the talented KORE team to drive operational excellence and deliver unparalleled value to our customers,” said Gordon.

In his new role as KORE’s Executive Vice President and COO, Gordon will focus on driving operational efficiency, supporting innovation, and driving sustainable growth. His leadership will help optimize KORE’s internal processes, leverage its talent, and maximize market opportunities to further the company’s position as a leader in IoT.

“We are pleased to welcome Bruce to the KORE leadership team,” he said. Ron Tottoninterim president and CEO of KORE. “Bruce’s extensive experience and proven track record of transforming organizations and driving growth will be invaluable as we continue to innovate and expand our offerings to meet the evolving needs of our customers.”

In connection with his employment, the Company granted Gordon an aggregate of 100,000 restricted stock units (“RSUs”), where each RSU represents the right to receive one common share of the Company under the terms and conditions of the related RSU grant agreements (“Grant Agreements”). The RSU grant was offered as a significant inducement for Gordon’s employment.

The RSUs were granted by the Compensation Committee of the KORE Board of Directors in reliance on the employment incentive exemption under Rule 303A.08 of the NYSE Listed Company Manual, which requires public disclosure of incentive awards. The Company is issuing this press release pursuant to Rule 303A.08. The RSUs were granted outside the KORE Group Holdings, Inc. 2021 Long-Term Stock Incentive Plan (the “Plan”) but will be subject to the terms of the Plan as if they had been issued under the Plan.

Subject to the terms and conditions of the Grant Agreements, 10,000 RSUs will vest on the first anniversary of the grant date, 27,500 RSUs will vest on the second anniversary of the grant date, 27,500 RSUs will vest on the third anniversary of the grant date and 35,000 RSUs will vest on the fourth anniversary of the grant date, subject to Gordon’s continued employment or service with the Company through the applicable vesting date.

About KORE

KORE is a pioneer, leader and trusted advisor delivering mission-critical IoT solutions and services. We enable organizations of all sizes to improve operational and business outcomes by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions and agility of deployment accelerate and significantly impact our customers’ business outcomes. For more information, visit korewireless.com.

Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include statements by the Company regarding expected future operating performance, market opportunities, product and service offerings, financial results and other statements and forecasts that do not relate solely to historical facts. Forward-looking statements can be identified by the use of words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “goal,” “plan,” “will,” “would,” “outlook,” “future” or “strategy” or the negative thereof or other variations thereof or similar references to future periods, although not all forward-looking statements contain these identifying words. Forward-looking statements are not assurances of future performance. Instead, they are based solely on the Company’s current beliefs, expectations and assumptions regarding future events, which in turn are based on information currently available to the Company. Because forward-looking statements are forward-looking, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, many of which are beyond the Company’s control. Actual results may differ materially from those indicated in the forward-looking statements. Important factors that could cause our actual results, performance, liquidity or achievements to differ materially include our ability to transition a new interim Chairman and Chief Executive Officer, our ability to successfully identify and hire a permanent Chairman and Chief Executive Officer and other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and in the Company’s other filings with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in forward-looking statements, investors should not place undue reliance on forward-looking statements, which reflect the Company’s views only as of the date of this press release. Except as required by law, neither the Company nor any of its affiliates or representatives undertake any obligation to provide additional information or to correct or update any information contained in this release, whether as a result of new information, future events or otherwise.

KORE Media Contact

Carla Deisenroth
Vice President of Global Marketing and Strategy
E-mail: [email protected]
+1-248-982-2759

Contact for KORE investors:

Vik Vijaywergija
Vice President, Investor Relations, Corporate Development and Strategy
[email protected]
+1-770-280-0324

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SOURCE KORE Group Holdings, Inc.