– Former CFO Transitioning to Pursue CEO
Role –
– Company Welcomes Proven Finance
Executive with Background in High-Growth SaaS, Cybersecurity and
Networking –
– Mark Donohue to join from Vestmark,
Rapid7, Cisco and Starent Networks –
Evolv Technology (NASDAQ: EVLV), a global leader in weapons
detection security screening, today announced the appointment of
Mr. Mark Donohue to the position of Chief Financial Officer,
effective June 1, 2022. Mr. Donohue will succeed Mr. Mario Ramos,
who has accepted a role as CEO at a privately held financial
services company. Mr. Ramos will continue in his current role until
May 31, 2022 to ensure a smooth transition.
Mr. Donohue will assume global responsibility for the Company's
accounting, finance, treasury, risk compliance, information
technology, supply chain, manufacturing and investor relations
functions. Mr. Donohue joins Evolv Technology from Vestmark, a
leading financial technology provider of SaaS-based portfolio
management and trading tools, where he has served as Chief
Financial Officer since 2018.
"We’re excited to welcome Mark to the executive management
team," said Mr. Peter George, President and Chief Executive Officer
of Evolv Technology. "Mark’s career has been shaped over 25 years
of executive leadership at category leading technology companies
across the SaaS, cybersecurity and networking markets. We believe
his experience and leadership will be particularly important as we
prepare for the next stage of our growth."
"I'm thrilled to be joining Evolv Technology, a leader in
weapons detection security screening," said Mr. Donohue. "Evolv
provides industry-leading technology that is helping to solve the
very important challenge of keeping the visiting public safe. I
look forward to joining the team as we work to extend Evolv’s
leadership position in one of the fastest growing markets across
the technology industry."
Prior to joining Vestmark, Mr. Donohue served in several senior
roles on the finance team of Rapid7, (NASDAQ: RPD), a leading
provider of security analytics and automation, including Vice
President of Finance. Before that, he spent seven years at Cisco
(NASDAQ: CSCO), the worldwide leader in technology that powers the
Internet, where he served as Senior Director, Strategy, Finance and
Business Operations for the Mobility Business Group. Previously he
served as Director of Investor Relations and Assistant Treasurer
for Starent Networks, Corp. (NASDAQ: STAR), a leading provider of
infrastructure solutions that enable mobile operators to deliver
multimedia services to their subscribers. Earlier in his career,
Mr. Donohue held various roles at IDC, Ferris Baker Watts, Teradyne
and Quantum Corporation. Mr. Donohue earned an MBA and MSF from
Boston College and a Bachelor’s Degree from The University of New
Hampshire.
"On behalf of the Board of Directors and the entire leadership
team, I would like to thank Mario for the valuable contributions he
has made since joining the team," continued Mr. George. "During
Mario’s tenure we made important progress in the areas of people,
systems, controls and technology which positions us well in our
growth plans as a public company. We wish Mario well in his next
chapter."
About Evolv Technology Evolv Technology (NASDAQ: EVLV) is
a global leader in weapons detection security screening. Our
mission is Evolv Technology (NASDAQ: EVLV) is a leader in weapons
detection for security screening, securing the world’s most iconic
venues and companies. Its mission is enabling a better experience
and better security for venues, creating a safer world to work,
learn, and play by transforming physical security to make
everywhere safer. It gives sports fans, theme park visitors,
concertgoers, shoppers, employees, students, and others peace of
mind so that they can gather without fear of violence. Its security
screening has scanned more than 250 million people, second only to
the Department of Homeland Security’s Transportation Security
Administration (TSA) in the United States, and its technology
combines powerful, advanced sensors with proven artificial
intelligence (AI), security ecosystem integrations, and
comprehensive venue analytics to reliably detect threats 10 times
faster than traditional metal detectors. Evolv Technology, Evolv
Express®, Evolv Insights™, and Evolv Cortex AI™ are registered
trademarks or trademarks of Evolv Technologies, Inc. in the United
States and other jurisdictions. For more information, visit
https://evolvtechnology.com.
Forward-Looking Statements Certain statements in this
press release may constitute “forward-looking” statements and
information, within the meaning of Section 27A of the Securities
Act of 1933, Section 21E of the Securities Exchange Act of 1934,
and the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995 that relate to our current
expectations and views of future events including but not limited
to statements regarding our expectations regarding the executive
management transition changes. Forward-looking statements involve
the Company’s current expectations and projections relating to its
financial condition, competitive position, future financial
results, plans, objectives, and business. All statements other than
statements of historical facts contained in this press release are
forward-looking statements. In some cases, these forward-looking
statements can be identified by words or phrases such as “may,”
“will,” “expect,” “should,” “could,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“is/are likely to” or the negative of these terms or other similar
expressions. These forward-looking statements are subject to risks,
uncertainties and assumptions, some of which are beyond our
control. In addition, these forward-looking statements reflect the
Company’s current views with respect to future events and the
Company’s performance and are not a guarantee of future
performance. Actual outcomes may differ materially from the
information contained in the forward-looking statements as a result
of a number of factors, including, without limitation expectations
regarding the Company’s strategies and future financial
performance, including its future business plans or objectives,
prospective performance and opportunities and competitors,
revenues, products and services, pricing, operating expenses,
market trends, liquidity, cash flows and uses of cash, capital
expenditures; the Company’s history of losses and lack of
profitability; the Company’s reliance on third party contract
manufacturing; the rate of innovation required to maintain
competitiveness in the markets in which the Company competes; the
competitiveness of the market in which the Company competes; the
ability for the Company to obtain, maintain, protect and enforce
the Company’s intellectual property rights; the concentration of
the Company’s revenues on a single solution; the Company’s ability
to timely design, produce and launch its solutions, the Company’s
ability to invest in growth initiatives and pursue acquisition
opportunities; the limited liquidity and trading of the Company’s
securities; geopolitical risk and changes in applicable laws or
regulations; the possibility that the Company may be adversely
affected by other economic, business, and/or competitive factors;
operational risk; risk that the COVID-19 pandemic, including
variants, vaccine roll-out efforts, and local, state, and federal
responses to addressing the pandemic may have an adverse effect on
the Company’s business operations, as well as the Company’s
financial condition and results of operations; litigation and
regulatory enforcement risks, including the diversion of management
time and attention and the additional costs and demands on
resources; and the risk factors set forth under the caption “Risk
Factors” in our Annual Report on Form 10-K for the year ended
December 31, 2021 filed with the Securities and Exchange Commission
on March 28, 2022. These statements reflect management’s current
expectations regarding future events and operating performance and
speak only as of the date of this press release. You should not put
undue reliance on any forward-looking statements. Although we
believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee that future results,
levels of activity, performance and events and circumstances
reflected in the forward-looking statements will be achieved or
will occur. Except as required by law, we undertake no obligation
to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise,
after the date on which the statements are made or to reflect the
occurrence of unanticipated events.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220519006014/en/
Investor Relations: Brian Norris Vice President of
Investor Relations bnorris@evolvtechnology.com
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