Telkonet, Inc. Announces Corporate Governance Updates Following Change in Ownership Structure of VDA Group
Rhea-AI Summary
Telkonet (OTCQB:TKOI) announced corporate governance changes after VDA Group, its majority owner, was fully acquired by GEWISS Group on May 22. Telkonet now operates within the GEWISS industrial ecosystem via VDA Group, while continuing its focus on hospitality and multi-room property technologies in North America.
Changes include appointing Luca Fornasari to Telkonet’s board, the resignation of Flavio De Paulis, and the departure of former CFO Gene Mushrush, with Kris Gintner assuming leadership of finance and corporate administration.
Positive
- Telkonet added to GEWISS Group industrial ecosystem via VDA acquisition
- Appointment of GEWISS executive Luca Fornasari to Telkonet board
- New finance leader Kris Gintner to support next development phase
- Company confirms continued focus on hospitality and multi-room sectors
Negative
- Board member Flavio De Paulis steps down from Telkonet board
- Former Telkonet CFO Gene Mushrush has left the company
News Market Reaction – TKOI
In the May 29 session, TKOI gained 163.29%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WAUKESHA, WI / ACCESS Newswire / May 29, 2026 / Telkonet, Inc. ("Telkonet" or the "Company") announces certain corporate governance updates following a change in the ownership structure of VDA Group S.p.A., which held the majority interest in Telkonet.
On Friday's 22nd of May, VDA Group S.p.A. was acquired in full by GEWISS Group, an international company active in the electrotechnical, energy, lighting and building automation sectors. As a result of this transaction, Telkonet becomes part of the broader GEWISS Group industrial ecosystem through VDA Group, while continuing to operate in its reference markets with continuity.
In connection with this development, Luca Fornasari, Head of the Building Automation Business Unit of GEWISS Group, has been appointed as a new member of the Board of Directors of Telkonet, Inc. His appointment reflects the strategic alignment between Telkonet's expertise in energy management and guest room technologies and GEWISS Group's broader capabilities in building automation, smart infrastructure and integrated technologies for buildings.
At the same time, Flavio De Paulis has stepped down from the Board of Directors of Telkonet, Inc. The Company thanks Mr. De Paulis for his contribution and service.
The Company also announces that Gene Mushrush, former Chief Financial Officer of Telkonet, Inc., has left the Company. Kris Gintner has joined the organization to lead the finance and corporate administration activities of Telkonet, Inc., supporting the Company in its next phase of development within the VDA Telkonet and GEWISS Group ecosystem.
Telkonet, Inc., operating commercially as VDA Telkonet Americas, remains focused on the hospitality and multi-room property sectors, providing technologies designed to improve energy efficiency, operational performance and guest comfort. The Company will continue to support clients and partners across the North American market as part of the global VDA Telkonet organization.
"Telkonet remains committed to supporting hotels and multi-room properties with technologies that improve energy efficiency, operational performance and guest comfort," said Piercarlo Gramaglia, CEO of VDA Telkonet. "The integration within the GEWISS Group ecosystem represents an important step toward strengthening our industrial platform, while maintaining the specialization, market focus and service continuity that define VDA Telkonet."
Contact Information
Lisa Borean
CFO VDA Telkonet
+39 349 986 9585
Lisa.borean@vdagroup.com
SOURCE: Telkonet, Inc.
View the original press release on ACCESS Newswire