Dhruv S. Parekh has joined Masternaut, European provider of fleet telematics, as chief executive officer.
Parekh joins Masternaut from Capstone, a group of operational executives that work closely with portfolio companies of Private Equity firm KKR & Co. During his tenure at Capstone, Dhruv worked with technology companies around the globe to drive major growth programmes.
He will focus on leveraging Masternaut’s leading technology platform to bring continuous innovation and value to the commercial fleet market through the adoption of telematics.
He said: “I am excited to be joining Masternaut. Masternaut is a leader in telematics with a proven track record of delivering value to thousands of customers across Europe. The telematics industry is in the early stages of a major trend in connected vehicles, and Masternaut is uniquely positioned to lead the market in technology and service innovation.
"The company has a strong and experienced team, backing from a leading growth equity investor in Summit Partners and strategic support from Fleetcor Technologies, the leading global fuel card and speciality payments processing company. This combination allows Masternaut to focus on delivering differentiated solutions to the commercial fleet market. We are also at the front end of a major trend in connected vehicles and Masternaut will continue to be the innovation leader.”
Han Sikkens, managing director at Summit Partners and Masternaut board director said: “We are delighted to have an experienced global technology executive taking the helm at Masternaut to lead the next stage of the company’s growth.”
Ali Ashurov, managing director at FleetCor and Masternaut board director, added: “Dhruv’s many years of experience driving innovation and scaling organisations are a perfect complement to the team at Masternaut and to our joint vision for the company. We are excited to have him on board.”