u-blox Board of Directors Nominates Two New Members

THALWIL, SWITZERLAND / ACCESSWIRE / October 21, 2022 / u-blox (SIX:UBXN), a global leader in wireless and positioning technologies, today announced that its Board of Directors has nominated Elke Eckstein and Karin Sonnenmoser to serve as independent members. They will stand for election at an Extraordinary Shareholders' Meeting to be held on 21 November 2022 which, according to the actual COVID provisions, will take place in virtual format. The nominations fill the vacancies left by the departure of two board members earlier this year and, if both were to be elected, u-blox's Board will be again comprised of seven members, of which five will be independent.

Ms. Eckstein has more than 35 years of industrial experience in the field of Semiconductors, Electronics and Photonics. Since 2019, she has been serving as President and CEO of Enics Group, a leading global electronics manufacturing service provider headquartered in Zurich, Switzerland. Previously, she held multiple top-level management positions in leading global companies including Operating and Digitalization Officer at Weidmüller Group (2013-2018) and COO of Osram Lighting (2008-2013), before that at AMD/Global Foundries, Altis Semiconductors and Siemens/Infineon. She is a member of the Board of Directors at Jenoptik, KK Wind, Saferoad and BE Semiconductor. Ms. Eckstein holds a degree in electrical engineering from Siemens Academy.

Ms. Sonnenmoser has extensive experience in finance, capital markets and M&A. She currently serves in the Board of Directors of Leoni AG (Germany), a global supplier of wires, cables and wiring systems, and is an independent senior advisor for Innio Jenbacher GmbH & Co KG/ Al Alpine (Luxembourg). Most recently, she served as a Board member of Swiss Steel Group AG (2020-2022) and was a member of the executive committee of Ceconomy AG (2019-2021) where she oversaw strategy, capital market action and M&A. Previously, she was a member of the executive committee of Zumtobel Group AG (2014-2018), responsible for strategy and capital market affairs. Before that, she held various finance positions at Volkswagen Group (1995-2014), including accounting, controlling, innovation strategy and process optimization. Ms. Sonnenmoser holds a master degree in Economics from the University of Augsburg and an Executive MBA from the University of Dayton, Ohio.

André Müller, Chairman of u-blox, stated, "The nomination and ultimately the election of two highly qualified professionals will allow u-blox to benefit from their diverse backgrounds, extensive industry knowledge and global capital markets expertise as we continue our global expansion. Karin's vast experience in the financial field, and specifically M&A, will be crucial in the future development of u-blox, while Elke's background and relationships in the semiconductor industry bring invaluable knowledge to our team, especially on the operational side. Furthermore, since early 2022, we have been searching for strong candidates to increase gender diversity at the Board level and as such are happy to be on track to achieve our target of a 30% female representation."

About u-blox

u‑blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. Their smart and reliable solutions, services and products let people, vehicles, and machines determine their precise position and communicate wirelessly over cellular and short-range networks. With a broad portfolio of chips, modules, and secure data services and connectivity, u‑blox is uniquely positioned to empower its customers to develop innovative and reliable solutions for the Internet of Things, quickly and cost‑effectively. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA. (www.u‑blox.com)

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u‑blox investor relations contacts:

Switzerland and Europe:
Doris Rudischhauser, c/o Dynamics Group AG
+41 79 410 81 88 / doris.rudischhauser@u-blox.com

US:
Lena Cati, The Equity Group Inc.
+1 (212) 836-9611 / lcati@equityny.com

u‑blox AG
Zürcherstrasse 68
8800 Thalwil
Switzerland
Phone +41 44 722 74 44
info@u-blox.com
www.u‑blox.com

Disclaimer

This release contains certain forward looking statements. Such forward looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the u blox Group to differ materially from those expressed or implied. These include risks related to the success of and demand for the Group's products, the potential for the Group's products to become obsolete, the Group's ability to defend its intellectual property, the Group's ability to develop and commercialize new products in a timely manner, the dynamic and competitive environment in which the Group operates, the regulatory environment, changes in currency exchange rates, the Group's ability to generate revenues and profitability, and the Group's ability to realize its expansion projects in a timely manner. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this report. u blox is providing the information in this release as of this date and does not undertake any obligation to update any forward looking statements contained in it as a result of new information, future events or otherwise.

SOURCE: u-blox AG