Norwest Equity Partners, a private equity firm focused on equity investments in growing and profitable middle market companies, and the board of directors of its portfolio company, PeopleNet Communications, announced today, July 23, that Ron Konezny has been promoted and named chief executive officer of PeopleNet, effective immediately.
PeopleNet, a provider of onboard computing and mobile communications systems to the nation’s transportation industry, has been a NEP portfolio company since 2000. “This promotion recognizes Ron’s contribution in leading the management team in achieving the continuing success of PeopleNet,” says John Lindahl, a NEP managing general partner and PeopleNet board member. “The company has consistently delivered profitable growth while being a pioneer in its industry. Ron has played a vital role in setting and executing this growth strategy.”
Konezny has been with PeopleNet since its founding in 1994 and was chief operating officer and chief financial officer prior to his promotion. His list of key accomplishments at PeopleNet include leading the company to 18 consecutive quarters of record growth and delivering many industry innovation firsts in his former role of chief technology officer.
John Sarto, the company’s current CEO and chairman, will remain chairman of the board of directors for PeopleNet. “I couldn’t be more thrilled for Ron,” Sarto says. “He has worked tirelessly through the years to make PeopleNet the leader in our industry. His passion, intellect, customer focus and vision for the future will ensure success for years to come.”
Konezny, who holds a degree in economics from Northwestern University, is currently a board member of the Truckload Carriers Association and the National Private Truck Council Fleet Institute. He also is quoted frequently in various transportation media.
“During John Sarto’s tenure as CEO, PeopleNet has grown rapidly and achieved impressive business results, including industry-leading product innovation,” says Erik Torgerson, a NEP partner and PeopleNet board member. “We are excited and confident that Konezny will continue to propel PeopleNet to new heights.”