Telenav Announces Transition of Chief Financial Officer

SANTA CLARA, Calif., Sept. 12, 2018 -- Telenav®, Inc. (NASDAQ:TNAV), a leading provider of connected car and location-based services, today announced that Michael Strambi, Chief Financial Officer, has decided to leave the Company. Mr. Strambi has agreed to remain with the Company in his current role until January 2, 2019 to facilitate an orderly transition. Telenav has begun a search to identify qualified candidates to fill the Chief Financial Officer position.

“Since Mike’s arrival to Telenav nearly nine years ago, he has been an instrumental part of our senior leadership team, managing our financial and accounting activities and investor relations,” said HP Jin, President and CEO of Telenav. “Mike also built a strong finance team that will continue to support the company through the transition. I want to thank him for his many contributions, time, and dedication to Telenav.”

“I am proud of the work we have achieved at Telenav positioning the company as a leader in the connected car market, penetrating significant automotive brands, and laying a solid foundation for growth,” said Mr. Strambi. “The experience was tremendous, and I look forward to seeing Telenav execute on the long-term strategy we have implemented.”

Mr. Strambi’s departure is not related to a dispute with the Company or any disagreement with the Company’s accounting principles or practices, internal controls or financial statement disclosures.