News Releases

Novariant, Inc. Announces New President & CEO

Fremont, Calif., USA—August 6, 2010

The board of Novariant, Inc., leading provider of precision positioning and intelligent machine control systems, today announces the appointment of Chris Ragot as President and Chief Executive Officer.

"Chris brings a very successful background to our company," says Jim Gibbons, Chairman of Novariant, Inc. "He was most recently President & CEO of Freightcar America, Inc., where he led a profitable public company through multiple business cycles while consistently improving profit margins, customer satisfaction and delivery times. The board is confident that he can set a direction for the company that will lead us to new levels of success and accomplishment in the markets we serve."

"I am very excited about this opportunity," says Chris Ragot. "The company has pioneered GPS control and automated steering systems in the agricultural market. Having already spent time with a few of our dealers and their grower customers, I know that our product line is closely tied to the livelihood of those who use it and if we continue to focus on helping our dealers and their customers be more efficient and more successful in their business, we will be successful."

The board also announced that Dr. Michael O'Connor, a Novariant co-founder and interim CEO, has decided to leave the company to pursue other career interests.

"This was a tough, personal decision for me. My entire professional career has been with just one company, Novariant-AutoFarm. I feel that now is a good time to take some time off to be with my family, and then find new opportunities that are outside the precision ag industry that will help broaden my business experience," says Michael O'Connor.

"I leave Novariant-AutoFarm knowing that the company is in extremely good hands, and I am highly confident in the future success of the company. We have excellent products, a team of outstanding employees, and the best dealers and partners in the industry. I look forward to following the company's bright future."

Chairman, Jim Gibbons added, "Mike and the rest of the Novariant team have enjoyed many incredible accomplishments over the past 15 years; from pioneering the field of precision steering for farm vehicles, as a university project, to a market leading business in a growing industry. We are all greatly indebted to Mike for his leadership and his seminal contributions to the company over his many years of service."