Former BMW Financial Services CEO joins NETSOL Technologies board

ENCINO, Calif. - NETSOL Technologies, Inc. (NASDAQ:NTWK), whose stock is trading near its 52-week high of $3.45, has appointed Ian Smith to its Board of Directors, effective July 1, 2025, according to a company press release.

Smith previously served as Chief Executive Officer for BMW Group Financial Services USA and the Americas from 2017 to 2021, where he managed a balance sheet exceeding $50 billion and annual net operating income of over $600 million. According to InvestingPro data, NETSOL has demonstrated strong financial performance, with a 26.72% year-to-date return and a projected revenue growth of 13% for fiscal year 2025.

The new board member brings more than 30 years of global leadership experience in financial services, with expertise in automotive finance, digital transformation and strategic growth. Throughout his career at BMW Group, Smith held various executive positions across multiple markets.

Currently, Smith serves as President of MIP, Inc., a medical textiles company with international operations, and as an Executive Advisor and Coach for PEO Leadership, a peer group leadership program for company executives.

"Ian’s remarkable leadership at BMW Financial Services, coupled with his deep understanding of the global auto finance ecosystem aligns perfectly with our strategic vision," said Najeeb Ghauri, Founder and CEO of NETSOL Technologies.

Smith’s qualifications include a Certificate in Company Direction from the Institute of Directors and a Postgraduate Certificate from Edinburgh Business School.

NETSOL Technologies provides AI-powered solutions and services for OEMs, dealerships and financial institutions to sell, finance and lease assets across more than 30 countries. The company maintains a healthy financial position with a current ratio of 2.26, indicating strong liquidity. For deeper insights into NETSOL’s financial health and growth prospects, InvestingPro subscribers can access comprehensive analysis and 11 additional ProTips in the detailed Pro Research Report.

In other recent news, NetSol Technologies reported strong financial results for the third quarter of fiscal year 2025, with total net revenues rising by 13% to $17.5 million. This growth was driven by a 24% increase in services revenue and a 10% rise in subscription revenues. The company also announced a GAAP net income of $1.4 million, or $0.12 per diluted share, and a non-GAAP EBITDA of $2.2 million, or $0.19 per diluted share. Additionally, NetSol shareholders approved several key proposals at the annual meeting, including the re-election of board members and an amendment to increase the number of authorized shares. The ratification of Fortune CPA, Inc. as auditors for the fiscal year ending June 30, 2025, was also approved. In a strategic move, NetSol appointed Richard Howard, a former executive at Daimler Financial Services, to its Advisory Board to enhance corporate strategy and market presence in North America. These developments reflect NetSol’s ongoing focus on innovation and expansion in the digital solutions market.

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