Ballantyne Strong Announces Holding Company Leadership Team
September 30 2016 - 4:30PM
Business Wire
Ballantyne Strong, Inc. (NYSE MKT:BTN), a holding company with
diverse business activities focused on serving the cinema, retail,
financial and government markets, today announced the transition to
a holding company leadership team. As part of the holding company
transition, Ryan Burke has been appointed Senior Vice President,
Chief Financial Officer, and Treasurer. In addition, Elise Stejskal
has been named Vice President of Finance and Ryan Turner has been
named Vice President of Strategic Investments.
Mr. Burke, who has served as Corporate Controller for Ballantyne
Strong since January 2015, will replace Nathan Legband who will be
leaving to pursue other opportunities at the end of October.
Kyle Cerminara, Chairman and CEO of Ballantyne Strong,
commented, "We are excited to have Ryan Burke assume the role as
our new Chief Financial Officer. We are confident that his
knowledge of our business along with his finance and accounting
experience will help Ballantyne Strong execute on our strategic
vision to transform into a highly performing holding company. We
are also excited for Elise Stejskal and Ryan Turner as they take on
new roles and responsibilities. We want to thank Nate Legband for
his contributions to Ballantyne Strong and we wish him well in his
future endeavors."
Mr. Burke joined Ballantyne Strong as Corporate Controller in
January 2015. In the role, Mr. Burke has been responsible for the
preparation of all SEC filings, coordinating internal and external
audit functions, implementing and maintaining a strong internal
control environment, and managing the treasury function, among
other responsibilities. Prior to joining Ballantyne Strong, Mr.
Burke served as Portfolio Company Controller for Tenaska Capital
Management, LLC from October 2008 until December 2014. He was
previously employed as an Audit Manager at KPMG, LLP from October
2002 through October 2008.
Ms. Stejskal joined Ballantyne Strong in October 2014 as
Director of Finance. In this role, Ms. Stejskal has been critical
to our financial modeling and forecasting. Over the last year, Ms.
Stejskal built out Ballantyne Strong's internal investor relations
function. Prior to joining Ballantyne Strong, Ms. Stejskal spent
over six years with ConAgra Foods where she rose through the
financial ranks in a variety of financial roles.
Mr. Turner joined Ballantyne Strong in July 2015 as Director of
Business Development. In this role, Mr. Turner has been critical to
our investments in RELM Wireless, 1347 Property Insurance Holdings
and Limbach Holdings via Itasca Capital. Prior to joining
Ballantyne Strong, Mr. Turner was Director of Research at
Fundamental Global Investors.
Ray Boegner, President of Ballantyne Strong’s Cinema Business
and Steve Schilling, President of Ballantyne Strong’s Digital Media
Business will both continue to manage the operational and sales
functions of their respective businesses.
Kyle Cerminara concluded, "We have been working to transition
Ballantyne Strong to a highly performing holding company that is
focused on returns on invested capital. Our focus on building a
holding company finance and accounting team that is responsible for
the financial reporting, financial modeling and evaluation of
current and future uses of our precious capital resources is a
natural next step in this evolution. We are excited about the
initial progress we have made and we look forward to the long-term
future of the company."
About Ballantyne Strong, Inc.
(www.strong-world.com)Ballantyne Strong and its
subsidiaries engage in diverse business activities including the
design, integration and installation of technology solutions for a
broad range of applications; development and delivery of
out-of-home messaging, advertising and communications;
manufacturing of projection screens; and providing managed services
including monitoring of networked equipment. The Company focuses on
serving the cinema, retail, financial, and government markets.
Forward-Looking StatementsExcept for the historical
information in this press release, it includes forward-looking
statements which involve a number of risks and uncertainties,
including but not limited to those discussed in the “Risk Factors”
section contained in Item 1A in our Annual Report on
Form 10-K for the fiscal year ended December 31, 2015 and
the following risks and uncertainties: the Company’s ability to
expand its revenue streams to compensate for the lower demand for
its digital cinema products and installation services, potential
interruptions of supplier relationships or higher prices charged by
suppliers, the Company’s ability to successfully compete and
introduce enhancements and new features that achieve market
acceptance and that keep pace with technological developments, the
Company’s ability to successfully execute its investment strategy,
the Company’s ability to retain or replace its significant
customers, the impact of challenging global economic environment or
a downturn in the markets, economic and political risks of selling
products in foreign countries, risks of non-compliance with U.S.
and foreign laws and regulations, cybersecurity risks and risks of
damage and interruptions of information technology systems, the
Company’s ability to retain key members of management and
successfully integrate the new executives, acquisition-related
risks, the Company’s ability to assert its intellectual property
rights, the impact of natural disasters and other catastrophic
events, the adequacy of insurance, and the impact of having a
controlling stockholder. Given the risks and uncertainties, readers
should not place undue reliance on any forward-looking statement
and should recognize that the statements are predictions of future
results which may not occur as anticipated. Actual results could
differ materially from those anticipated in the forward-looking
statements and from historical results, due to the risks and
uncertainties described herein, as well as others not now
anticipated. New risk factors emerge from time to time and it is
not possible for management to predict all such risk factors, nor
can it assess the impact of all such factors on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. Except where required by law, the
Company assumes no obligation to update forward-looking statements
to reflect actual results or changes in factors or assumptions
affecting such forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20160930005739/en/
Ballantyne Strong, Inc.Ryan M. Burke,
402-829-9434Chief Financial OfficerorElise Stejskal,
402-829-9423Investor Relations
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