- Mike Schmidt appointed as new CEO of Nixxy (NIXX, Financial), with extensive experience in telecom and technology sectors.
- Schmidt has successfully completed seven acquisitions in 18 months in a previous role.
- Focus on transforming Nixxy into a telecom and AI-enabled technology platform, with a planned spin-off of AI-enabled career businesses division.
Nixxy, Inc. (NASDAQ:NIXX) has announced the appointment of Mike Schmidt as its new Chief Executive Officer, effective immediately. With over 20 years of leadership experience in telecommunications, data center infrastructure, and cloud technologies, Schmidt brings a wealth of expertise to the role. His career highlights include founding a SaaS company in the cable telecommunications sector and leading Uniserve Communications to profitability.
In his previous role at Teliphone Navigata Westel, Schmidt executed seven acquisitions in just 18 months, showcasing his capability in mergers and acquisitions, a skill set that aligns with Nixxy's strategic focus. Additionally, as President of Urban Communications, he spearheaded the transformation into Urbanfibre, Canada's first provider of 1 Gb fiber-to-the-home service.
The company is undergoing an organizational restructuring with former interim CEO Miles Jennings transitioning to lead a division focused on AI-enabled career businesses, ahead of a planned spin-off. This move indicates a dual strategy of leveraging AI while streamlining core telecom operations.
Nixxy plans to provide an investor update later this quarter, detailing its Q2 strategic progress, product roadmap, and financial outlook. This strategic pivot aims to position Nixxy as a leader in the growing field of AI-driven telecom solutions.
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