Ron Ranallo Announces Retirement; Betty Ong Named CFO

Velocity, A Managed Services Company, that provides telecommunications services, along with digital and media solutions announced today that Betty Ong has been named chief financial officer. Ong will succeed Ron Ranallo, who has announced his intention to retire. Ranallo will stay on until the end of May to ensure an orderly transition. As the CFO, Ong will lead the finance, accounting, and sourcing teams for the company and serve as a member of the executive leadership team.

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“On behalf of our leadership team, I’d like to thank Ron for his service and contributions to Velocity’s growth over the past two years,” said Greg Kiley, Founder and CEO of Velocity.

“I am very pleased that Betty has agreed to join our leadership team as CFO. She has proven to be a well-rounded finance professional with strong investor and finance consulting and strategy experience. I am confident she will leverage her past success and be a strong partner as we execute our transformational growth plans,” continued Kiley.

Ong joins Velocity with over 20 years of experience in corporate finance, strategy and operations management. Most recently, she was the vice president of finance and operations at Unacast, a venture-backed data services company. Prior to that, she held multiple finance leadership roles in technology, financial services and telecommunications companies, including Thomson Reuters, H1 Insights, Shore Group Associates, and Verizon. Over her career, Ong has gained extensive experience building and strengthening the finance organization to support and drive business growth. 

“I am excited to join Velocity’s leadership team in its current high growth phase. Greg Kiley and the Velocity team have built a suite of solutions and services that address businesses’ end-to-end telecom and IT needs. Coupling that with its proprietary software enabling best-in-class services and focus on customer support, the company is well-positioned to capitalize on tremendous growth opportunities. I look forward to working with all of Velocity’s stakeholders to build upon recent successes as it continues expanding its foothold in and beyond the retail, hospitality, digital signage and media space,” said Ong.

Ong holds an MBA from The University of Chicago Booth School of Business and a bachelor’s degree from the Wharton School of the University of Pennsylvania.