LONDON - Gorilla Technology Group Inc. (NASDAQ: GRRR), a global provider of Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology solutions, has announced the addition of Thomas Sennhauser to its Board of Directors as of December 1, 2024. Sennhauser, who is currently serving as the CTO and Business Lead, APJ, at Intel Corporation (NASDAQ:INTC), brings over two decades of experience in technology leadership, R&D, and digital transformation to the company.
The appointment of Sennhauser is seen as a strategic move by Gorilla Technology to bolster its leadership team with deep technical expertise and visionary guidance. His background includes spearheading transformative initiatives in AI, IoT, SDN, and Cloud Infrastructure, as well as forging significant industry partnerships in the Asia-Pacific region and beyond. The company's financial health is rated as GOOD by InvestingPro, with impressive revenue growth of 425% in the last twelve months and a robust gross profit margin of 75%.
Jay Chandan, Chairman and CEO of Gorilla Technology, expressed confidence that Sennhauser's leadership and technical knowledge will align with the company's ambitious goals and help elevate Gorilla's innovation and global influence.
During his tenure at Intel, Sennhauser has been recognized for driving advancements that delivered transformative solutions and business outcomes. His previous roles at Hewlett Packard Enterprise (NYSE:HPE) have also contributed to his reputation as a global technology strategist, especially in emerging fields like Network Function Virtualisation (NFV) and Software (ETR:SOWGn) Defined Networking (SDN).
Sennhauser himself has expressed honor in joining the Board of Directors and looks forward to contributing to Gorilla's mission of driving innovation and solving tomorrow's challenges. His role will include guiding the strategic direction and governance of the company as it aims to scale its operations and strengthen its market leadership.
Gorilla Technology specializes in AI-driven technologies for Smart Cities, enhancing efficiency, safety, and cybersecurity measures. The company's expertise is in revolutionizing urban operations and bolstering security through intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics, and advanced cybersecurity technologies. For deeper insights into Gorilla Technology's financial performance and growth potential, investors can access comprehensive analysis and 12+ additional ProTips through InvestingPro's detailed research reports, available for over 1,400 US-listed companies.
The information about the new board appointment is based on a press release statement. The press release also contains forward-looking statements, which are subject to change based on various factors and do not necessarily guarantee future results or performance.
In other recent news, Gorilla Technology Group Inc. has been active with several notable developments. The company reported substantial growth in 2023, with revenues reaching $64.7 million, a 189% increase year-over-year, and a net profit of $19.9 million. Gorilla Technology has also completed its share buyback program, repurchasing over 1.1 million shares, as the company believes its stock is undervalued.
The company has alerted the U.S. Securities and Exchange Commission about potential stock price manipulation and announced its intention to continue share repurchases under its buyback program. Additionally, Gorilla Technology has made strategic personnel changes, appointing Bruce Bower as Interim Chief Financial Officer and welcoming former Bank of America executive Keith Levy to its Board of Directors.
In terms of projects, Gorilla Technology has secured two significant contracts in Taiwan and is collaborating with SINTRONES Technology Corp to enhance autonomous driving and fleet management systems. These are the recent developments for Gorilla Technology.
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