A growing startup maker of measurement and data-collection software has hired a new chief financial officer with a Harvard M.B.A.
Grand Rapid-based Modustri said last month that Bill Pugh, founder and CEO of 40-11 Holdings, will move from Texas to head up its financial and operational strategy.
Pugh will develop and implement the infrastructure needed to support the company’s “rapid growth.”
Over the last 12 months, Modustri has experienced "triple-digit growth rates," outgrow its office and hired 25 people.
Pugh will help guide Modustri toward its goals of commercializing multiple sensor products and bringing the Internet of Things, or IoT, to the heavy equipment, military, logistics and retail industries.
“Decision makers are hungry for data to make their operations more efficient and profitable,” Pugh said. “Modustri’s sensor inspection tools are at the forefront of this global change, positioning the company for exponential growth, which I see as an exciting challenge.”
Most recently, Pugh founded and was the CEO of 40-11 Holdings, an investment firm that provides expertise and support to private investors.
Previously, Pugh was CFO at Reliant Rehabilitation Holdings, where he led the development of financial and IT systems to support high organic growth rates.
He also spent a number of years in transaction advisory roles with Ernst & Young.
“Bill’s extensive experience managing fast-paced growth made him the perfect fit,” said Brian Steketee, founder and CEO, Modustri. “We had a great need for someone with Bill’s experience and abilities.”
Pugh also holds a bachelor's degree in accounting from Oklahoma State University and is a certified public accountant.