MIAMI, June 6, 2019 /PRNewswire/ -- Cool Holdings,
Inc. ("Cool Holdings" or the "Company") (NASDAQ: AWSM) today
announced that it has completed a restructuring of its Board of
Directors and senior management team. The Company appointed
two new independent directors to its Board: Kevin Taylor, age 50, who will serve as Chairman
of the Board, and Vince E. Virga,
age 48. Reinier Voigt, who formerly served as the Company's
Chief Operating Officer, was named President and Chief Executive
Officer. Mr. Voigt was also named an employee director to the
Board. Vernon A. LoForti, who formerly served as the
Company's Vice President, was named Senior Vice President and Chief
Financial Officer. Leaving the Company and the Board are
Mauricio Diaz, former Chief
Executive Officer, and Felipe Rezk,
former Chief Sales and Marketing Officer. Also leaving the
Company is Alfredo Carrasco, former
Chief Financial Officer.
Both Messrs. Taylor and Virga will join current independent
director Michael Galloro as members
of the Audit, Compensation and Nominating and Governance
Committees. Mr. Galloro will remain chairman of the Audit
Committee, Mr. Taylor will serve as chairman of the Compensation
Committee, and Mr. Virga will serve as chairman of the
Nominating and Governance Committee.
Commenting on the board and management restructuring,
Reinier Voigt, President and Chief
Executive Officer of Cool Holdings stated: "We are positioning our
Company for the anticipated closing of the acquisition of Simply
Mac, Inc. that we announced on May 9,
2019. We are slimming down our management team and cutting
expenses in other areas as we look forward to the integration of
the Simply Mac team. We recently consolidated our Miami corporate office into offices at our
distribution center in Doral,
Florida, and upon closing of the Simply Mac acquisition,
plan to relocate our corporate headquarters to Salt Lake City, the current home of Simply
Mac."
Commenting further, Mr. Voigt stated: "We welcome our two new
independent directors to the Cool Holdings board. We have
significant work ahead of us, and need the experience and expertise
of Kevin and Vince to guide us. Both men have lengthy careers
of running, restructuring and financing successful organizations,
and we look forward to their help in transforming our Company."
Kevin Taylor is a seasoned
executive with 30 years of operating experience in Fortune 500
companies throughout North and South America. For the past 8
years, he has been the President and CEO of TEREI International
Limited, a merchant bank focused on debt and equity opportunities
in the small to mid-cap markets in North and South America. From January 2009 to December
2012, Mr. Taylor was the President of Facey Telecom, a
wholly-owned subsidiary of Facey Commodity Company, a
billion-dollar conglomerate operating in the Caribbean and South
America. He received a Bachelor of Engineering Science from
the University of Western Ontario in
1994 and completed The General Managers Program at the Harvard Business School in 2001.
Vince Virga is an entrepreneur,
venture capitalist, investor and business advisor. He
currently runs Capital V, where he deploys venture capital and
consults in the technology and other sectors. From 2002 to
2015, Mr. Virga served as President and CEO of SkillStorm, a
company he cofounded. SkillStorm is a leading provider of
outsourced technology services to large enterprises, primarily in
the banking sector, and Mr. Virga currently serves as Chairman of
the Board. Mr. Virga received a Bachelor degree in
communications from the University of Central
Florida.
About Cool Holdings, Inc.
Cool Holdings is a Miami-based
company currently comprised of OneClick®, a chain of
retail stores and an authorized reseller under the
Apple® Premier Partner, APR (Apple® Premium
Reseller) and AAR MB (Apple® Authorized Reseller
Mono-Brand) programs and Cooltech Distribution, an authorized
distributor to the OneClick® stores and other resellers
of Apple® products and other high-profile consumer
electronic brands. Additional information can be found on its
website at www.coolholdings.com.
Forward-looking and cautionary statements
Forward-looking statements in this press release and all other
statements that are not historical facts are made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements, including those related to the outcome
of the Company's Board and senior management transition, closing of
the acquisition of Simply Mac, Inc., integration and synergy with
Simply Mac and the timing for relocation of the Company's corporate
headquarters, involve factors, risks, and uncertainties that may
cause actual results in future periods to differ materially from
such statements. There are a number of factors that could cause
actual events to differ materially from those indicated by such
forward-looking statements, including actions by third parties,
such as Apple®. These factors include, but are not
limited to, risks arising from prevailing market conditions and the
impact of general economic industry or political conditions in
the United States or globally and
risks that the acquisition of Simply Mac does not close. A list and
description of these and other risk factors can be found in the
Company's most recent Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q, and Current Reports on Form 8-K, which can be
reviewed at www.sec.gov. These forward-looking statements
speak only as of the date of this release and we undertake no
obligation to publicly update any forward-looking statements to
reflect new information, events or circumstances after the date of
this release.
Apple® is the registered trademark of Apple Inc.
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SOURCE Cool Holdings, Inc.