SkyeTek Appoints Kevin Mammel Vice President of Finance
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Seasoned Finance VP Rounds out Executive Team as Company Prepares for Expansion
Westminster, Colorado, June 4, 2007 - SkyeTek, Inc., the leading provider of embedded RFID reader technology, today announced the appointment of Kevin Mammel as Vice President of Finance to round out its executive team. Mammel, 37, comes from the networking and telecommunications industry and has over 14 year’s experience in all aspects of corporate finance. He joins Skyetek at a crucial point on its growth trajectory having come off its most successful quarter to date and nearing the close of its next round of financing which will be used to expand product development and sales coverage.
"SkyeTek is experiencing its third consecutive record-breaking quarter behind robust demand for its intelligent, price-performing reader technology," said Rob Balgley, CEO of SkyeTek. "With our market thesis proven, SkyeTek will enter a period of significant expansion following this round of financing. Kevin’s well-seasoned leadership is a welcome addition given the imminent increase in expenditures across all functional areas."
Prior to joining Skyetek, Mammel worked in various financial positions for McData Corporation, most recently serving as Vice President of Finance and Treasurer. In this role, he led the treasury, tax, payroll and facilities teams totaling 35 people. He also played an integral role in McData’s $900 million acquisition by Brocade. Previously, Mammel held executive-level finance positions at Qwest Communications and also served as an auditor with Arthur Andersen.
"This is an exciting time to join SkyeTek as the company moves into the next phase of maturation where execution will dominate as the critical success factor," said Mammel. "Skyetek has a proven business model and established itself as the leader in RFID reader innovation, so I look forward to the challenge of helping guide the company through its next level of growth."
As Vice President of Finance at Skyetek, Mammel will lead fundraising, capital budgeting, and accounting. He will also oversee use of proceeds following this round of financing in areas such as product development and sales channel expansion.
About SkyeTek, Inc:
SkyeTek delivers a turn-key RFID application that enables real-time management of field-based inventory and
resources. This capability allows manufacturers and service providers to track the movement of inventory, assets,
and workers in real-time from the factory, through the field, and ultimately to the customer site enabling
significant increases in revenue, efficiency, productivity, and compliance. In addition to its MetaFi application
service, SkyeTek also provides RFID reader modules as well as comprehensive professional and support services.
SkyeTek is a privately held, venture-backed company headquartered in Westminster, Colorado, with sales
operations in North America, Europe and Asia. For more information, visit www.skyetek.com.
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