Nitel Founders Move to Board Observers Post-Private Equity Investment

Nitel founders Rick Stern and Ron Grason have vacated their leadership roles two months after announcing a private equity investment.

Stern, the former CEO, and Grason, formerly president, have moved to board observer roles at the technology services provider. According to a news release, they remain “investors in the business.”

Shaw, Margi_Nitel

Nitel’s Margi Shaw

Margi Shaw has moved from chief operating officer to CEO. The company also promoted Mikail Shomade to chief operating officer and Mark Dickey to chief revenue officer.

Nitel announced its partnership with London-based private equity firm Cinven in November.

“Now, with the additional firepower of Cinven and an elite leadership team at the helm, we are poised to more tightly align with the needs of customers through growth and expansion,” Shaw said.

Shaw joined the Chicago-based company in 2020. Her past employers include Comcast Business, where she led engineering operations, and Illinois-based First Communications, where she was 

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