DGSE Companies Announces Appointment of New Chief Executive Officer
September 11 2015 - 9:00AM
Business Wire
DGSE Companies, Inc. (NYSE MKT: DGSE) (“DGSE” or “the Company”),
a leading wholesaler and retailer of jewelry, diamonds, fine
watches, and precious metal bullion and rare coin products, today
announced that Matthew M. Peakes has been appointed to the
positions of Chairman of the Board, President and Chief Executive
Officer of DGSE Companies, Inc., effective September 16, 2015. Mr.
Peakes will replace James D. "Dusty" Clem, who previously announced
his resignation as Chairman of the Board, President and Chief
Executive Officer, effective September 15, 2015.
Mr. Peakes will step down from his current position as Director
of Business Development for Elemetal, LLC (“Elemetal”), to assume
these roles at DGSE. Mr. Peakes brings significant business
development and precious metals experience with him from his time
at Elemetal, which is the Company’s largest shareholder and one of
the largest global precious metals companies. Mr. Peakes was also a
Vice President with J.P. Morgan where he managed relationships with
high net worth investors, and helped to develop investment
strategies across a wide range of platforms. Mr. Peakes has a
Bachelor of Business Administration and a Masters of Business
Administration, both from Southern Methodist University.
“On behalf of the Board of Directors, I’d like to welcome Matt
Peakes to DGSE. We are very excited to embark on a new stage in
DGSE’s history, under Matt’s leadership,” stated C. Brett Burford,
Chief Financial Officer and Director, of DGSE. “Matt was a key
member of Elemetal’s management team, and led many of their
critical projects. Matt brings a wealth of experience, energy and
enthusiasm to DGSE, and we believe he will be an ideal leader to
help transform DGSE into a consistently profitable business for our
shareholders.”
The Company also announced that David S. Rector has resigned
from the Board of Directors, effective September 4, 2015. Mr.
Rector has left the Board due to personal reasons, and has no
disagreements or disputes with the Company or its management. The
Company is currently engaged in a search to fill three independent
director seats, and expects to announce new board appointments in
the coming weeks.
About DGSE Companies
DGSE Companies, Inc. wholesales and retails jewelry, diamonds,
fine watches, and precious metal bullion and rare coin products
through its Charleston Gold & Diamond Exchange, Chicago Gold
& Diamond Exchange (formerly Bullion Express), and Dallas Gold
& Silver Exchange operations. DGSE also owns Fairchild
International, Inc., one of the largest vintage watch wholesalers
in the country. In addition to its retail facilities in Illinois,
South Carolina, and Texas, the Company operates websites which can
be accessed at www.dgse.com and www.cgdeinc.com. Real-time price
quotations and real-time order execution in precious metals are
provided on another DGSE website at www.USBullionExchange.com.
Wholesale customers can access the full vintage watch inventory
through the restricted site at www.FairchildWatches.com. The
Company is headquartered in Dallas, Texas and its common stock
trades on the NYSE MKT exchange under the symbol "DGSE."
This press release includes statements which may constitute
"forward-looking" statements, usually containing the words
"believe," "estimate," "project," "expect" or similar expressions.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to,
continued acceptance of the Company's products and services in the
marketplace, competitive factors, dependence upon third-party
vendors, and other risks detailed in the Company's periodic report
filings with the Securities and Exchange Commission. By making
these forward-looking statements, the Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release.
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version on businesswire.com: http://www.businesswire.com/news/home/20150911005095/en/
DGSE Companies, Inc.C. Brett Burford, 972-587-4021Chief
Financial Officerinvestorrelations@dgse.com
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