Cubic (NYSE: CUB) has formed a new business through the integration of its U.K.-based intelligent transport systems segment with its traffic management brands GRIDSMART and Trafficware.
Jon Newhard, formerly vice president and general manager of Trafficware, will lead the newly established Cubic ITS business as its VP and GM, the company said Monday.
œThe creation of Cubic ITS is important for the maturation of our business, sets the stage for our future growth and allows us to leverage our products and go-to-market synergies, said Matt Cole, president of Cubic™s transportation systems business. œThe integration of our ITS businesses further strengthens our NextCity vision and firmly establishes Cubic as the ITS leader in our core markets.
Joe Custer, former VP of finance, strategy and business development at Trafficware, will succeed Newhard as VP and GM of Trafficware and oversee connected vehicle, internet of things, artificial intelligence and smart city expansion programs.
Jeff Price, formerly chief technology officer of GRIDSMART, will be responsible for product development, client relations and operations as VP and GM of GRIDSMART, while David Powell will oversee the U.K.-based ITS business, which will focus on software products.
Powell, Price and Custer will report directly to Newhard.
Cubic acquired GRIDSMART in January.
