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MultiSensor AI Announces Asim Akram as CEO to Expand Market Penetration and Accelerate Adoption of Innovative Solutions

1. MSAI appoints Mr. Akram as CEO starting June 23, 2025. 2. Akram's experience in SaaS and IoT strengthens MSAI's growth strategy. 3. Transition praised by Chairman David Gow and Interim CEO Trip Flavin. 4. Akram's leadership may enhance innovation and market presence. 5. Forward-looking statements indicate potential risks and uncertainties.

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FAQ

Why Bullish?

The appointment of a seasoned CEO like Akram, with a successful track record, typically instills investor confidence and can lead to positive stock movement, similar to past cases where leadership changes improved strategic direction.

How important is it?

The change in leadership is fundamental for MSAI's strategic direction and growth, influencing market perceptions and investor confidence significantly.

Why Long Term?

The strategic changes anticipated from new leadership often evolve over time, indicating a long-term impact, as seen in companies like Honeywell, which benefited from strong leadership transitions.

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HONORBCACN
MultiSensor AI Holdings, Inc. ("MultiSensor AI," "MSAI" or "Company") (Nasdaq:MSAI), a pioneer in condition-based monitoring and predictive maintenance enabling Industry 4.0, today announced the appointment of its new Chief Executive Officer and President to lead the Company's strategic growth objectives. Mr. Akram is expected to start with MSAI on June 23, 2025.David Gow, MSAI's Chairman, said: "The appointment of Mr. Akram as Chief Executive Officer and President marks an exciting and transformative milestone for MSAI, its employees, and its stakeholders. With more than two decades of experience building and leading businesses across SaaS, industrial IoT, manufacturing, and data-driven technology platforms, Mr. Akram brings a diverse and highly relevant background that will be instrumental to the Company's near-term growth goals and long-term success."Mr. Akram began his career in technology consulting at global firms including Accenture and KPMG. He later founded and scaled Orion, a SaaS platform company, where he successfully built a recurring-revenue model and led expansion across North America. Subsequently, Mr. Akram has held multiple executive roles at Honeywell, where he successfully led global businesses with a focus on revenue growth and margin expansion, operational discipline, and product innovation. He also played a key role in leading M&A integration efforts in Honeywell's fire and safety business. Most recently, Mr. Akram led the transportation business at ORBCOMM, where he successfully grew operations by forming strategic alliances with original equipment manufacturers, value-added resellers, and online marketplace platforms and expanding ORBCOMM's footprint globally. Mr. Akram holds a Masters in Business Administration from M.I.T. Sloan School of Management, a Masters in Information Management from Stevens Institute of Technology and a Bachelors in Engineering from Northeastern University.Stuart Flavin, III ("Trip"), Interim Chief Executive Officer and President, said, "Mr. Akrams deep expertise in SaaS business models, cloud-based analytics, IoT platforms, and customer-focused execution uniquely positions him to lead MSAI into its next phase of growth as a leader in intelligent sensing solutions and predictive maintenance. We are confident that Mr. Akram's strategic vision and proven leadership will be instrumental as we seek to innovate and expand. We are thrilled to welcome him as we embark on this next chapter."David Gow continued "The Board and I want to thank Trip for his stewardship of MultiSensor AI during this transition period. We are excited for Trip to return as an active Board member where he will continue to apply his wealth of experience to help the Company achieve further innovation and expansion."Forward Looking StatementsThis press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "plan," "will," "would" or their negatives or variations of these words, or similar expressions. All statements contained in this press release that do not strictly relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company management's expectations regarding its strategic priorities and objectives, future plans and business prospects. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including those identified in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in the Company's other filings with the SEC. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. Any forward-looking statement made in this press release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, the Company expressly disclaims any obligations to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.MSAI Contact:E-mail: [email protected]Website: www.multisensorai.comSOURCE: MultiSensor AI Holdings, Inc.

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