Masternaut appoints new CEO
Mr Parekh joins pan-European fleet telematics provider from Capstone, a group of operational executives that work closely with portfolio companies of Private Equity firm KKR & Co. During his tenure at Capstone, Dhruv worked with technology companies around the globe to drive major growth programmes.
In his new role he will focus on leveraging Masternaut’s leading technology platform to bring continuous innovation and value to the commercial fleet market through the adoption of telematics.
Commenting on the opportunity, Mr Parekh commented: “I am excited to be joining Masternaut. Masternaut is a leader in telematics with a proven track record of delivering value to thousands of customers across Europe. The telematics industry is in the early stages of a major trend in connected vehicles, and Masternaut is uniquely positioned to lead the market in technology and service innovation.
“The company has a strong and experienced team, backing from a leading growth equity investor in Summit Partners and strategic support from FleetCor Technologies, the leading global fuel card and speciality payments processing company. This combination allows Masternaut to focus on delivering differentiated solutions to the commercial fleet market. We are also at the front end of a major trend in connected vehicles and Masternaut will continue to be the innovation leader.
“The work that the Masternaut team and our 24×7 mission critical product support play an important social and environmental role in helping our clients achieve their social responsibility goals. Improving driver and road safety as well as minimising fuel waste and emissions are core to the mission of Masternaut. I am very proud of the value our teams deliver every day and look forward to multiplying our positive impact by providing our technology and services to every vehicle and driver on the road.”