Craig Wireless Systems has looked inside the company to find a newpresident. It announced this week that Rod Vandenbos, general managerand director of business development at its Palm Springs, Calif.,division is the new head man. He replaces David Lazzarato, who resigned last October after only seven months on the job.
Before joining Craig, Vandenbos had been president of Digital InternetServices Corp., one of the first Internet providers in the southwestUnited States.
Drew Craig, who shares the CEO duties with his brother Boyd, couldn’tbe reached for comment on what the appointment means for the company’sstrategy. Craig Wireless Systems wants to build a high-speed WiMAX datanetwork in the Vancouver area since getting Industry Canada permissionto swap its 2.5Ghz fixed wireless licences to mobile wireless. Thecompany’s Web site has banners that suggest WiMAX service is coming,but gives no details.
However, the Canadian parent is struggling financially. In April, Boydand Drew Craig extended their $11.6 million loan to the company to July31, 2010. As part of the deal, the company will temporarily repay BoydCraig $1 million dollars, which will be re-advanced on or before Sept.30 of this year.
The move was made as Craig Wireless said it lost another $2 million for the quarter ending Feb. 28 on revenue of $433,283.
In addition to being president of Craig Wireless Palm Springs,Vandenbos was also a contractor to company controlled by Boyd Craigpreparting to deploy a 4G network in Cambodia and in other countries inthe region. He’ll continue that work, for which he will be compensateddirectly by a company controlled by Boyd Craig.
“I look forward to this new opportunity with Craig Wireless and thecompany’s growth and development in new and existing markets,”Vandenbos said in a news release. “I view Craig Wireless as a companywell positioned to be among the forefront of organizations employingadvanced wireless 4G telecommunications technology around the world.”
“We are very pleased to announce the promotion of Rod Vandenbos to oursenior management team,” Boyd Craig said in the release. “Rod has aproven track record of business development in the wirelesstelecommunications field. The progress we have been experiencing in thePalm Springs region under Rod’s direction is very encouraging and issomething that we hope will continue at a Company-wide level.”