Schmidt brings 20+ years of experience and M&A leadership to accelerate Nixxy's telecom and AI transformation
NEW YORK, NY / ACCESS Newswire / May 8, 2025 / Nixxy, Inc. (NASDAQ:NIXX), a publicly traded technology and communications company, today announced the appointment of Mike Schmidt as its Chief Executive Officer, effective immediately. Mr. Schmidt brings over 20 years of leadership experience in telecommunications, data center infrastructure, and cloud technologies. He has a proven track record of leading corporate transformations and accelerating growth through strategic execution, operational discipline, and a clear focus on value creation.
Mr. Schmidt began his career as a founder of one of the first SaaS-based software companies serving the cable telecommunications industry. He went on to lead Uniserve Communications (TSX) as CEO, where he successfully restructured the business and returned it to profitability, positioning it as a national network and data center company. At Teliphone Navigata Westel, he directed M&A strategy, completing seven acquisitions in just 18 months and significantly expanding the company's national and international service offerings.
As President of Urban Communications (TSX), Mr. Schmidt rebranded and scaled the company into Urbanfibre, Canada's first provider of 1 Gb fiber-to-the-home service, where he ultimately delivered a successful shareholder exit. Throughout his career, he has consistently driven efficiency, optimized capital allocation, and implemented scalable, next-generation technologies. His ability to lead through complexity and deliver sustainable growth has earned him respect throughout the telecom and technology investment sectors.
"We are thrilled to welcome Mike Schmidt as our new CEO," said Evan Sohn, Chairman of the Board of Directors of Nixxy, Inc. "His deep industry knowledge and data-driven approach to leadership make him the ideal executive to guide Nixxy through its next phase of transformation as we scale into a telecom and technology-focused business."
In conjunction with this leadership transition, the Company also wishes to recognize the contributions of Miles Jennings, who has served as interim CEO. Mr. Jennings will transition to lead a division focused on AI-enabled career businesses as its dedicated President to help accelerate its growth and innovation roadmap as the Company prepares for its planned spin-off.
"I'm honored to join Nixxy at such a critical and exciting time," said Mr. Schmidt. "The opportunity to help shape the company's evolution into a modern telecom and AI-enabled technology platform is a challenge I welcome, and I look forward to working closely with the board, Miles, and the entire Nixxy team."
His appointment signals a new chapter for Nixxy, as the company positions itself to capture a growing share of the AI-driven telecom and data infrastructure opportunity. An investor update outlining Q2 strategic progress, product roadmap, and financial outlook is expected later this quarter.
About Nixxy, Inc.
Nixxy, Inc. (NASDAQ:NIXX) is a diversified technology and communications company focused on delivering next-generation solutions in telecom, AI-powered platforms, and data infrastructure. With a renewed commitment to innovation and operational scale, the company is expanding its footprint across high-growth markets while continuing to support its legacy business units through focused leadership and strategic execution.
Contact Information:
Investor Relations
ir@nixxy.com
https://www.nixxy.com
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, those regarding the Company's business strategy, future operations, acquisition strategy, financial position, potential growth, spin-out transactions, and market opportunities.
Forward-looking statements are based on current expectations, estimates, and projections, and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, market conditions, business execution, integration of new assets, regulatory developments, and other risk factors described in the Company's filings with the Securities and Exchange Commission, including its most recent reports on Form 10-K and Form 10-Q.
Words such as "anticipates," "believes," "expects," "intends," "plans," "may," "will," and similar expressions are intended to identify forward-looking statements, but the absence of these words does not mean a statement is not forward-looking.
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No Offer or Solicitation Disclaimer: This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Risk Factors: Investors should carefully consider the risks, uncertainties, and assumptions associated with the Company's business, including the execution risks related to entering a new line of business and integrating recently acquired software. The Company currently has no revenue from the telecommunications line of business, and its ability to generate revenue and achieve profitability in this area depends on the successful execution of its business strategy, including the commercialization of its newly acquired technology, customer adoption, and operational scaling. There is no guarantee that the Company will be able to effectively integrate the acquired software, develop a viable market for its offerings, or realize anticipated synergies. The Company also faces risks related to market conditions, competition, evolving industry standards, and regulatory developments, which could impact its growth prospects. Additionally, the planned spin-out transaction involves uncertainties regarding timing, regulatory approvals, and overall market reception. Financial and liquidity risks, including the availability of capital and access to financing, may also affect the Company's ability to support this business expansion. These and other risks are detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its most recent reports on Form 10-K and Form 10-Q. Actual results may differ materially due to known and unknown factors, and investors are urged to review the Company's SEC filings and conduct their own due diligence before making investment decisions.
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SOURCE: Nixxy, Inc.
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