VIQ Solutions Announces Executive Leadership and Board Changes
In connection with Mr. Pare's departure, Larry Taylor has been appointed as Interim Chief Executive Officer effective immediately. Mr. Taylor will work closely with the executive team and the Board to accelerate VIQ's delivery of profitability, growth and free cash flow.
Elizabeth Pennell has also been appointed Global Head of Operations. Ms. Pennell has over 30 years of industry experience having joined VIQ in January 2020 with the acquisition of ASC Media. Recently, Elizabeth has led the successful integration of our USA and UK operations which are our highest performing business units. In addition, Elizabeth leads VIQ's Media business unit serving global clients such as Bloomberg, Fox News, CNN and many others with real time digital solutions. Elizabeth's new role will include leadership of VIQ's Australian business unit to accelerate customer technology adoption and drive profitability to levels achieved in USA and UK. Elizabeth will spend a significant amount of her time in Australia and is expected to work closely with VIQ's Australian customers and teams to drive immediate results.
Larry Taylor stated, 'We thank Sebastien and wish him well in his new endeavors. The Board and I look forward to working with Elizabeth and our management team as we accelerate VIQ's progress on growth and profitability.'
Board Director Changes
Brad Wells has been appointed Board Chair and Lead Independent Director effective August 11, 2025. Mr. Wells is the largest shareholder of VIQ. Mr. Wells has been President and CEO of Momentum Group Ltd. since he founded it in 2004. Mr. Wells runs operating companies in the USA, Canada, Europe and Central America. Previously, Mr. Wells was Founder and CEO of Sym-Tech Dealer Services until the company was successfully sold to private equity in 2019 after a successful digital transformation that led to higher productivity and automation.
Howard Wetston, C.M, KC. LL.B., ICD.D, has been appointed to the Board effective August 11, 2025. Mr. Wetston is a distinguished Canadian public servant, lawyer and former Senator whose career spans all three branches of parliamentary democracy – executive, judicial and legislative. Mr. Wetston is a former Chair of the Ontario Securities Commission, former Chair of the Ontario Energy Board, former Commissioner of Competition and former Federal Court Judge. Mr. Wetston was named to the Order of Canada and received the Queen Elizabeth II Diamond Jubilee Medal as well as honorary doctorates from Dalhousie and Cape Breton University.
Joe Quarin and Larry Taylor will remain active members of the Board.
Brad Wells stated, 'I am energized to take on the role of Chair at this pivotal time. VIQ must operate with greater urgency, speed, and discipline. Our focus is clear: achieve profitability, strengthen liquidity, and deliver best-in-class AI-powered solutions to our global customer base. Just as critical is empowering our people and strengthening a culture of aligned execution, accountability and agility. We will pursue growth through focused innovation and targeted acquisitions where they make strategic sense. I look forward to continuing to work with the Board and management, as we lead VIQ into its next phase. I am delighted to welcome Howard who bring s tremendous insight, leadership, and energy to the Board and the business.'
About VIQ Solutions
VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed into actionable information. The cyber-secure, AI technology and services platform are implemented in the most rigid security environments including criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and to achieve digital transformation faster and at a lower cost.
Forward-looking Statements
Certain statements included in this press release constitute forward-looking statements or forward-looking information (collectively, 'forward-looking statements') under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
Forward-looking statements (typically contain statements with words such as 'anticipate', 'believe', 'expect', 'plan', 'intend', 'estimate', 'propose', 'project' or similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions 'may' or 'will' occur). These statements are only predictions. Forward-looking statements in this press release include but are not limited to statements with respect to the Company's strategy related to growth and profitability and the potential outcome thereof, and the Company's current and future growth prospects.
Forward-looking statements are based on several factors and assumptions which have been used to develop such statements, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct.
Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the factors described in greater detail in the 'Risk Factors' section of the Company's annual information form dated March 31, 2025 and in the Company's other materials filed on SEDAR+ at www.sedarplus.ca.
These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Such estimates and assumptions may prove to be incorrect or overstated. The forward-looking statements contained in this press release are made as of the date of this press release and the Company expressly disclaims any obligations to update or alter such statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
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