BELLEVUE, WA -- (Marketwire) -- 04/14/11 -- BSQUARE Corporation (NASDAQ: BSQR), a leading enabler of smart, connected devices, today announced that Dr. Donald Bibeault, noted turnaround expert, has decided not to stand for reelection to the Company's Board of Directors to allow him more time for his turnaround business. His current term expires in June 2011.
Dr. Bibeault was Chairman of the BSQUARE Board of Directors from July 2003 until October 2008 during which time he provided leadership and guidance through the critical years of the Company's turnaround and return to growth. During a turnaround career that has spanned more than forty years, Dr. Bibeault has served as Chairman, Chief Executive Officer, or Chief Operating Officer of numerous companies including Pacific States Steel, PLM International, Best Pipe and Steel, Ironstone Group, American National Petroleum, Tyler-Dawson Supply and Iron Oak Supply. Dr. Bibeault was also the special turnaround advisor to the Chief Executive Officers of Silicon Graphics, Varity Corporation (formerly Massey Ferguson), and Bank of America. In recent years, he has also been a portfolio company board director and corporate performance advisor to many of the nation's premier private equity firms such as TA Associates, as well as the resident corporate performance and turnaround expert for a leading global fund.
"Don was the architect of BSQUARE's turnaround plan and has provided years of sound leadership and guidance for management and the Board," said Ren Jurgensen, current Board Chair for BSQUARE. "On behalf of our shareholders, I want to thank Don for his dedication and wish him continued success in his endeavors outside of BSQUARE."
Brian Crowley, chief executive officer of BSQUARE said, "I want to personally thank Don for the mentoring, advice and guidance over the past years. It's satisfying to see BSQUARE thriving today, and it would not have been possible without Don's leadership."
"BSQUARE is now a premier company astride some of the most attractive growth markets available today," said Dr. Bibeault. "It has a strong financial base to work from and a management in place capable of seizing additional growth opportunities. As a substantial shareholder, I have always tried to keep shareholder interest first and look forward to solid performance on behalf of the shareholders in the years ahead."
BSQUARE is an industry leader with a proven track record in providing production-ready software products, engineering services, solutions and automated testing for smart, connected devices. With deep technical knowledge of mobile and embedded technologies, BSQUARE enables device makers to develop and ship best in class products. Since 1994, BSQUARE has provided satisfied customers with innovative software solutions allowing them to get to market faster with reduced risk and cost. For more information, visit www.bsquare.com.