NEW YORK, Aug. 2, 2021 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX) ("Ideanomics" or the "Company"), today announced
Shane McMahon has been appointed
Executive Chairman of the Board. Jim
Cassano will become the new Vice Chairman.
McMahon has been involved with the company since 2010, and
previously served as Vice Chairman. Prior to Ideanomics, McMahon
served as Executive Vice President of Global Media for World
Wrestling Entertainment, Inc., where he oversaw the company's
consumer products, digital media and publishing divisions worldwide
as well as all international revenue streams for WWE.
"We recently launched the transformation of Ideanomics as we
vertically enter the exciting EV and hydrogen fuel cell space. We
now have a powerful management team in place to ensure Ideanomics'
success," said McMahon. "I'm proud of what the new team has
achieved in such a short amount of time and more importantly, I am
thrilled for what's yet to quickly come. I look forward to helping
the company's growth, vision, and momentum stay on track as we
enter this new phase for Ideanomics."
"Shane has been an inspirational and passionate leader for
Ideanomics, and we are honored to have him as our Executive
Chairman," said Ideanomics CEO Alf
Poor. "His entrepreneurial approach and marketing acumen
have been vital to our recent and anticipated growth. We are
excited to be able to leverage his broad business and
organizational understanding as we scale the company in the US and
globally."
Jim Cassano, a current member of
the Board, will bring his extensive leadership experience to the
role of Vice Chairman. He has been a key player in helping shape
Ideanomics' long-term strategy and has been working hand-in-hand
with the executive team to grow the ecosystem of EV and mobility
businesses. Cassano is a three-time CEO and has served for more
than a decade on the Board of Ideanomics. Additionally he has
led a number of private entrepreneurial ventures. For the expanding
Ideanomics organization, Cassano brings substantial private equity,
venture capital, M&A experience in structuring joint ventures
and profitable strategic alliances. Cassano has global experience
across numerous financial and business services sectors, including
internet software, data services, entertainment, publishing,
pharmaceuticals, biotech services, and engineering.
McMahon and Cassano's appointments signals Ideanomics' strong
commitment to scale existing synergistic businesses, and the
build-out of its vision as a vertically integrated company in the
EV and hydrogen fuel cell space.
For more information and news on other Ideanomics subsidiaries,
please visit https://ideanomics.com.
About Ideanomics
Ideanomics is a global company
focused on the convergence of financial services and industries
experiencing technological disruption. The Ideanomics Mobility
division is a service provider which facilitates the adoption of
electric vehicles by commercial fleet operators through offering
vehicle procurement, finance and leasing, and energy management
solutions under an innovative sales to financing to charging
(S2F2C) business model. Ideanomics Capital is focused on disruptive
fintech solutions for the financial services industry. Together,
Ideanomics Mobility and Ideanomics Capital provide global customers
and partners with leading technologies and services designed to
improve transparency, efficiency, and accountability, and offer
shareholders the opportunity to participate in high-potential
growth industries.
Safe Harbor Statement
This press release contains
certain statements that may include "forward looking statements".
All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties, and include
statements regarding our intention to transition our business model
to become a next-generation financial technology company, our
business strategy and planned product offerings, our intention to
phase out our oil trading and consumer electronics businesses, and
potential future financial results. Although the Company believes
that the expectations reflected in such forward-looking statements
are reasonable, they do involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of risks and uncertainties, such as risks related to: our
ability to continue as a going concern; our ability to raise
additional financing to meet our business requirements; the
transformation of our business model; fluctuations in our operating
results; strain to our personnel management, financial systems and
other resources as we grow our business; our ability to attract and
retain key employees and senior management; competitive pressure;
our international operations; and other risks and uncertainties
disclosed under the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our most recent Form 10-K and Form 10-Q
filed with the Securities and Exchange Commission, and similar
disclosures in subsequent reports filed with the SEC, which are
available on the SEC website at www.sec.gov. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these risk
factors. Other than as required under the securities laws, the
Company does not assume a duty to update these forward-looking
statements.
Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116, New York,
NY 10018
ir@ideanomics.com
Jeremy Ertl, Skyya PR for
Ideanomics
jeremy@skyya.com
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SOURCE Ideanomics