Genasys Announces Director Resignation Due to New Employment Requirements
May 21 2024 - 3:30PM
Genasys Inc. (NASDAQ: GNSS), the global leader in protective
communications, today announced that Scott Anchin, a member of its
Board of Directors and Audit Committee Chair, has notified the
Company that he has entered into a new employment agreement with a
multi-national investment firm which requires him to resign from
all outside Board roles. As a result, Mr. Anchin has informed the
Company that he will resign from its Board of Directors effective
May 31st.
Reflecting, Mr. Anchin said "Over my past 8 years with Genasys,
it has been my honor to collaborate and work with the executive
team and my fellow Board members. When I joined
Genasys' Board of Directors, the Company was focused solely on
LRADs. Under Richard's leadership, we developed our SaaS platform,
acquired four companies, and expanded our product offerings. The
Company is now in its strongest position ever, with a software
business on track to more than double and a hardware business that,
based on recent wins, is well positioned to reach levels never seen
before. I look forward to seeing Genasys' success unfold."
Genasys CEO, Richard Danforth commented, "Scott has been an
integral part of our Board and we value his leadership and advice.
His engagement with the Company has been consistently professional,
highly constructive and always focused on the interests of the
shareholders that he represents. We wish him success in the next
chapter of his career."
Genasys has engaged Egon Zehnder, a global leadership advisory
firm to assist the Board in identifying candidates to replace Mr.
Anchin on the Board of Directors.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective
Communications Solutions and Systems, designed around one premise:
ensuring organizations and public safety agencies are “Ready when
it matters™.” The company provides the Genasys Protect platform,
the most comprehensive portfolio of preparedness, response, and
analytics software and systems, as well as Genasys Long Range
Acoustic Devices (LRAD®) that deliver directed, audible voice
messages with intelligible vocal clarity from close range to 5,500
meters. Genasys serves state and local governmental agencies, and
education (SLED); enterprise organizations in critical sectors such
as oil and gas, utilities, manufacturing, and automotive; and
federal governments and the military. Genasys Protective
Communications Solutions have diverse applications, including
emergency warning and mass notification for public safety, critical
event management for enterprise companies, de-escalation for
defense and law enforcement, and automated detection of real-time
threats like active shooters and severe weather. Protecting people
and saving lives for over 40 years, Genasys covers more than 70
Million people in over 100 countries worldwide, including more than
500 U.S. cities, counties and states. For more information, visit
genasys.com.
Forward-Looking Statements
Except for historical information contained herein, the matters
discussed are forward-looking statements within the meaning of the
“safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. You should not place undue reliance on these
statements. We base these statements on particular assumptions that
we have made in light of our industry experience, the stage of
product and market development as well as our perception of
historical trends, current market conditions, current economic
data, expected future developments and other factors that we
believe are appropriate under the circumstances. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those suggested in any
forward-looking statement. The risks and uncertainties in these
forward-looking statements include without limitation the business
impact of geopolitical conflicts, epidemics or pandemics, and other
causes that may affect our supply chain, and other risks and
uncertainties, many of which involve factors or circumstances that
are beyond the Company’s control. Risks and uncertainties are
identified and discussed in our filings with the Securities and
Exchange Commission. These forward-looking statements are based on
information and management’s expectations as of the date hereof.
Future results may differ materially from our current expectations.
For more information regarding other potential risks and
uncertainties, see the “Risk Factors” section of the Company’s Form
10-K for the fiscal year ended September 30, 2023. Genasys Inc.
disclaims any intent or obligation to publicly update or revise
forward-looking statements, except as otherwise specifically
stated.
Investor Relations Contact
Brian Alger, CFA
SVP, IR and Corporate Development
ir@genasys.com
(858) 676-0582
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