Michael Bell, who helped lead Intel Corp.'s high-profile push into what Silicon Valley calls the " Internet of Things," has been chosen to run an established player in the field.

Silver Spring Networks Inc. on Wednesday is announcing Mr. Bell's appointment as chief executive and president. Scott Lang, who has led the company since its founding in 2004, will give up those titles and become executive chairman, the company said. Mr. Bell is also being named a director.

The Redwood City, Calif., company, which went public in 2013, has to date mainly specialized in hardware, software and services to help utilities monitor and control power grids. Among other things, the company sells communications modules used in smart meters and other applications that help conserve energy.

But Silver Spring plans to diversify into technology for municipal lighting and other fields associated with the Internet of Things, which refers to adding sensors, computing and Internet connections to many everyday products. The company said Mr. Bell was selected to help spearhead those efforts.

"Here is a company that is actually doing it," Mr. Bell said in an interview. "It all just works."

Silver Spring has never recorded an annual profit, in part because of the way it books revenue from utility customers. In 2014, the loss came to $89.2 million on revenue of $191.3 million, while deferred revenue stood at $609.6 million.

The company reported net income in the fourth quarter of 2014 and the first quarter of 2015.

Mr. Bell, 48 years old, held prominent product-development roles at Apple Inc. and hand-held device maker Palm Inc. before joining Intel in 2010. His original assignment there was to help move Intel beyond PC chips and into smartphones, an effort showing only slight progress as most handset makers continue to use chips based on designs licensed by ARM Holdings PLC.

Brian Krzanich, named Intel's CEO in May 2013, later assigned Mr. Bell to lead a new group aiming to place Intel technology into smartwatches, eyewear, earphones and other gadgets.

In the spring, responsibilities for those efforts were shifted to another executive and Mr. Bell's group was subsumed into a broader division overseeing new technology development. Intel disclosed in July that he would leave the company in the wake of restructuring moves ordered by Mr. Krzanich.

Write to Don Clark at don.clark@wsj.com

 

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(END) Dow Jones Newswires

September 02, 2015 08:35 ET (12:35 GMT)

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