A shakeup at Calgary-based high-speed wireless equipment developer Wi-LAN has seen chief financial officer Peter Kinash depart along with company director Michel Fattouche, CEO of Wi-LAN’s sister company Cell-Loc.
Wi-LAN chairman and CEO Hatim Zaghloul said Kinash will be pursuing “other interests,” while his friend and former partner Fattouche has stepped down to focus on his other responsibilities.
“Michel remains one of my best friends, and I wish him all the best in his future activities,” said Zaghloul, who says he will now manage all outside brokerage and investor relationships personally.
Zaghloul, who has a PhD in physics from the University of Calgary, co-founded Wi-LAN Inc. in 1992, co-invented two wireless technologies (W-OFDM, MC-DSSS) and holds nine Canadian and American patents, some of them in a partnership with Fattouche.
Zaghloul was also once a director of Cell-Loc Inc., but has since resigned. Meanwhile, Steve Bellamy of UC Wireless will take over the CFO role.
Bellamy is currently chief financial officer for the Wi-LAN subsidiary in Santa Barbara, Calif., and will work between both offices.
Zaghloul thanked Kinash for his efforts over the past two years.
“As chief financial officer, we are looking forward to Steve’s extensive financial expertise to manage Wi-LAN’s finances in this challenging market,” he added.
In late July, Calgary-based Wi-LAN Inc. said it would be undertaking a $1-million restructuring plan, slashing its workforce by one-third and taking other money-saving measures to cope with slower-than-expected growth in the fixed wireless access market.
