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NovAtel Inc. Appoints Michael Ritter as new President and CEO

February 5, 2009
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Calgary, Alberta, Canada – NovAtel Inc. (NovAtel), a leading manufacturer of precise positioning technology, announced today that Michael Ritter has been named as the company’s new President and CEO. Ritter replaces President and CEO, Jon Ladd, who is assuming a new role with NovAtel’s parent company, Hexagon AB, of Sweden.

A trained engineer, Ritter has over twenty years of experience in the precise Global Navigation Satellite System (GNSS) industry. Most recently as a senior executive with Trimble Navigation Ltd., Ritter was successful in implementing winning product and organizational strategies that were critical in driving both customer satisfaction and corporate revenues. Prior to Trimble, Ritter held senior positions with Schlumberger and various other companies around the world.

Mr. Ritter said, “NovAtel is well respected as a leader in the GNSS industry, with cutting-edge technology, strong customer relationships and a tremendously talented employee base. I look forward to building on their current success to take the company to the next level.”

Outgoing President and CEO, Jon Ladd stated, “After an extensive executive search, I believe we have hired the best candidate to continue expanding NovAtel’s business and to develop strategies that will ensure the companies long-term success in the new global economic environment. Michael’s understanding of the industry, his experience managing change and improvement processes, and his team oriented leadership style will fit very well with NovAtel’s culture and business environment.”

Ola Rollén, President and CEO of NovAtel’s parent company, Hexagon AB said, “We are extremely pleased that Michael, who has world-class industry experience, will be leading the NovAtel team. We anticipate a very smooth transition of leadership and look forward to supporting Michael in his new growth initiatives for the company.” Of Ladd, Rollén stated, “One only has to look at NovAtel’s tremendous growth during Jon Ladd’s tenure to recognize the value he delivered to the company. He and his management team firmly established NovAtel’s position as a leading global manufacturer of GNSS precision technology, creating a powerful brand that is second to none in the industry.” Ladd will be assisting Ritter in his transition to NovAtel, after which he will be joining Hexagon in a strategic advisory role.

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