Synchronoss Technologies, Inc.
(“Synchronoss” or the “Company”) (Nasdaq: SNCR), a
leading global provider of personal cloud software and services,
today announced the appointment of Kevin Rendino as a new director,
effective December 4, 2023. Mr. Rendino, Chairman and Chief
Executive Officer of 180 Degree Capital Corp., is a respected
leader with a distinguished career in financial services, bringing
extensive expertise in capital markets, value investing, and
corporate governance.
Kevin Rendino assumed the role of Chairman and
CEO at 180 Degree Capital in the first half of 2017, following his
appointment to its board in 2016. With over three decades of Wall
Street experience, he provides a wealth of knowledge and a keen
strategic mindset that will be additive to the board. Prior to his
time at 180 Degree Capital, Mr. Rendino managed the Basic Value
Fund at BlackRock/Merrill Lynch. Mr. Rendino previously served on
the boards of both Synacor Inc., from 2019 until its sale to Centre
Lane Partners in 2021, as well as TheStreet, Inc., from 2017 until
its sale to The Arena Group Holdings, Inc in 2019. He has also
served on the Board of Directors for Rentech Inc., and was Chairman
of Partners for Health, a public charity addressing critical
community health needs.
“Kevin is a highly regarded figure in the
investment community, and his insights will complement the talents
and experience of the Synchronoss board as we continue to focus on
delivering value for our customers and shareholders,” said Stephen
Waldis, Synchronoss Founder and Executive Chairman of the Board.
“In Kevin’s seven years at the helm of 180 Degree Capital, he has
had an impressive track record working with small cap public
technology companies, and we believe Kevin will provide substantial
value as we embark on the next chapter of Synchronoss’
journey.”
Mr. Rendino added: “Synchronoss is strategically
positioned as a premier provider of Cloud solutions to Tier One
global customers, and its recent divestiture of non-core businesses
underscores the Company’s commitment to driving margin expansion
and generating free cash flow from its high-performing Cloud
business. I am honored to join this accomplished board of directors
and look forward to contributing my experience and perspective as
the Company executes its strategic vision for future growth.”
Jeff Miller, President and CEO of Synchronoss,
added: “In light of our strategic shift towards a Cloud-only
business, Kevin’s appointment to our board comes at an important
time for Synchronoss. His extensive financial expertise and
strategic acumen will be additive to our current board and helpful
in guiding us toward a future of sustainable, profitable growth. We
look forward to his contributions as we focus on unlocking the full
potential of our Cloud operations.”
Synchronoss’ directors bring significant
expertise in implementing strategic priorities across a spectrum of
industries, including telecom, media, technology, and finance.
Along with Mr. Rendino, Synchronoss’ board includes Stephen Waldis,
Founder and Executive Chairman of Synchronoss; Jeff Miller,
President and CEO of Synchronoss; Kristin S. Rinne, former Senior
Vice President of AT&T; Mohan Gyani, private investor, advisor,
and former CEO of AT&T Wireless Mobility Services; Laurie L.
Harris, former PricewaterhouseCoopers Partner; and Martin
Bernstein, Head of Private Investments at B. Riley.
Forward-Looking StatementsThis
press release includes statements concerning Synchronoss and its
future expectations, plans and prospects that constitute
“forward-looking statements” within the meaning of federal
securities law. These forward-looking statements reflect our
current views with respect to, among other things, future events
and our financial performance and prospects. These statements are
often, though not always made through the use of words or phrases
such as “may,” “might,” “should,” “could,” “predict,” “will,”
“seek,” “estimate,” “project,” “projection,” “annualized,”
“strive,” “goal,” “target,” “outlook,” “aim,” “expect,” “plan,”
“anticipate,” “intends,” “believes,” “potential” or “continue” or
other similar expressions are intended to identify forward-looking
statements. These forward-looking statements are not historical
facts and are based on current expectations and projections about
future events and financial trends that management believes may
affect its business, financial condition and results of operations,
any of which, by their nature, are uncertain and beyond our
control. Accordingly, we caution you that any such forward looking
statements are not guarantees of future performance and are subject
to risks, assumptions, estimates and uncertainties that are
difficult to predict. Although we believe that the expectations
reflected in these forward-looking statements are reasonable as of
the date made, actual results may prove to be materially different
from the results expressed or implied by the forward-looking
statements. Except as otherwise indicated, these forward-looking
statements speak only as of the date of this press release and are
subject to a number of risks, uncertainties and assumptions
including, without limitation, risks relating to the Company’s
ability to sustain or increase revenue from its larger customers
and generate revenue from new customers, the Company’s expectations
regarding expenses and revenue, the sufficiency of the Company’s
cash resources, the impact of legal proceedings involving the
Company, including the litigation by the Securities and Exchange
Commission against certain former employees of the Company
described in the Company’s most recent SEC filings, and other risks
and factors that are described in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” sections of the Company’s Annual Report on
Form 10-K for the year ended December 31, 2022, and the Company’s
Quarterly Report on Form 10-Q for the period ended September 30,
2023, which are on file with the SEC and available on the SEC’s
website at www.sec.gov.
About Synchronoss
Synchronoss Technologies (Nasdaq: SNCR), a
global leader in personal Cloud solutions, empowers service
providers to establish secure and meaningful connections with their
subscribers. Our SaaS Cloud platform simplifies onboarding
processes and fosters subscriber engagement, resulting in enhanced
revenue streams, reduced expenses, and faster time-to-market.
Millions of subscribers trust Synchronoss to safeguard their most
cherished memories and important digital content. Explore how our
Cloud-focused solutions redefine the way you connect with your
digital world at www.synchronoss.com.
Media Relations Contact:Domenick
CileaSpringboarddcilea@springboardpr.com
Investor Relations Contact:Matt Glover and Tom
ColtonGateway Group, Inc.SNCR@gateway-grp.com
Grafico Azioni Synchronoss Technologies (NASDAQ:SNCR)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Synchronoss Technologies (NASDAQ:SNCR)
Storico
Da Mag 2023 a Mag 2024