Sphere 3D Names Veteran Finance Executive Timothy Hanley to its Board of Directors
31 Maggio 2022 - 10:05PM
Business Wire
Sphere 3D Corp. (Nasdaq: ANY) (Sphere 3D), dedicated to becoming
the leading carbon-neutral bitcoin mining company operating at an
industrial scale, has announced that Timothy P. Hanley, a veteran
financial executive with extensive experience advising companies on
strategy creation and execution, navigating digital transformation,
and market development, has been appointed to Sphere 3D's Board of
Directors as an independent director and as the Chair of the
Board’s Audit Committee.
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As a Qualified Financial Expert with significant experience in
the board room and with audit committees, Mr. Hanley (65) adds
significantly to the financial and technology expertise of Sphere
3D's Board of Directors. He was most recently a Senior Partner with
Deloitte LLP ("Deloitte"), where he served as the lead client
service partner and advisory partner for Deloitte's global clients.
In his leadership role, he was responsible for oversight of the
Global Consumer and Industrial Products practice, including
strategy implementation and growing the practice to over $14
billion in annual revenue.
"On behalf of the Board of Directors, I am pleased to be adding
Tim's financial insights and perspectives as we execute our
strategy to be a leader in the cryptocurrency and blockchain
industries," said Duncan McEwan, Chairman of Sphere 3D. "We remain
committed to optimizing the leadership, financial structure, and
operations of our Company as we grow our mining fleet to an
industrial scale with a view to capitalize on the enormous
potential of the Bitcoin mining industry. We believe Tim's addition
and the previously announced management and board changes will help
expedite the implementation of our strategy."
"It is a great honor to join the board of directors of Sphere 3D
as it executes its strategy to become a carbon-neutral leader in
the cryptocurrency industry," said Mr. Hanley, newly appointed
independent board member of Sphere 3D. "While global geopolitical
and financial issues are challenging every financial market, the
future of Bitcoin and blockchain offers significant upside. I am
looking forward to helping Sphere 3D capture a share of that upside
for our shareholders."
The addition of Mr. Hanley brings Sphere 3D's Board to four
directors, three of whom are independent. In April 2022, the
Company announced that it would expand its Board to five members. A
search is ongoing for an additional board member.
About Timothy P. Hanley
Timothy Hanley is a seasoned global executive with extensive
experience consulting with manufacturers regarding digital
transformation, organizational strategy development and execution,
acquisitions, and market development. Mr. Hanley is a Qualified
Financial Expert and has significant experience in the board room
and working with audit committees.
Mr. Hanley was most recently a Senior Partner with Deloitte LLP
("Deloitte"), where he led the firm's Global Consumer and
Industrial Products practice and helped grow the practice to more
than $14 billion in annual revenue. In his leadership role, he
acted as a lead client service partner and an advisory partner for
several of the firm's most significant global clients. During his
17 years at Deloitte, Mr. Hanley served in many client-service and
industry leadership roles. Before his most recent role as the
Global Consumer and Industrial Products Industry Leader, Tim's
leadership roles included serving as the U.S. Vice Chairman and
Process and Industrial Products Leader.
Mr. Hanley began his career at Arthur Andersen in 1978 and
served as an audit partner on many of the largest manufacturers in
Wisconsin. He served as a board member of the National Association
of Manufacturers from 2008 to 2017 and regularly advises privately
held companies in the consumer products, retail, and distribution
industries. Mr. Hanley currently serves as the Acting Keyes Dean
for the College of Business at Marquette University.
About Sphere 3D
Sphere 3D Corp. (Nasdaq: ANY) is a net carbon-neutral
cryptocurrency miner with decades of proven enterprise
data-services expertise. The Company is rapidly growing its
industrial-scale mining operation through the capital-efficient
procurement of next-generation mining equipment and partnering with
best-in-class data center operators. Sphere 3D has ~6.0 EH/s of
capacity under contract for deliveries this year. Currently, the
Company operates a fleet of ~1,000 miners and expects delivery of
an additional 59,000 miners by year-end 2022 for a total hashing
capacity of 6.0 exahash. Sphere 3D is dedicated to growing
shareholder value while honoring its commitment to strict
environmental, social, and governance standards. For more
information about the Company, please visit Sphere3D.com.
Forward-Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the Securities Act, and Section 21E
of the Securities Exchange Act of 1934, as amended. Forward-looking
statements generally relate to future events, including the timing
of the proposed transaction and other information related to the
proposed transaction. In some cases, you can identify
forward-looking statements because they contain words such as
"may," "will," "should," "expects," "plans," "anticipates,"
"could," "intends," "target," "projects," "contemplates,"
"believes," "estimates," "predicts," "potential" or "continue" or
the negative of these words or other similar terms or expressions.
Expectations and beliefs regarding matters discussed herein may not
materialize, and actual results in future periods are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected. The forward-looking statements
contained in this communication are also subject to other risks and
uncertainties, including those more fully described in filings with
the SEC, including Sphere 3D's reports filed on Form 20-F and Form
6-K and in other filings made by Sphere 3D with the SEC from time
to time and available at www.sec.gov. These forward-looking
statements are based on current expectations, which are subject to
change.
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Sphere 3D NMN Advisors Sphere3d@nmnadvisors.com Kurt
Kalbfleisch Investor.relations@sphere3d.com
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