Cemtrex Announces CFO Transition
October 01 2020 - 4:15PM
— Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology
company driving innovation in Internet of Things (IoT), security,
machine vision & artificial intelligence, and augmented &
virtual reality, today announced that Priscilla Popov has been
appointed by Cemtrex’s Board of Directors to serve as the Company’s
Chief Financial Officer, effective September 30, 2020. Mrs. Popov
will succeed Aron Govil, who will remain as a consultant to the
company until fiscal year-end 2021.
“We are extremely excited to have Priscilla move
into the CFO role and are confident in her ability to support
Cemtrex as we enter the next phase of our growth cycle,” said
Saagar Govil, Chairman and CEO of Cemtrex. “We are also grateful to
Aron for his nearly two decades of contributions to Cemtrex as the
early founder and his tenure as CFO. Aron has played a key role in
the growth of our Company and due to life changes and health
reasons, he is going to pass the baton to Priscilla. Aron remains
one of our largest individual shareholders and we appreciate his
continued support as a consultant to the company while Priscilla
transitions into the role, and we wish him the very best in the
future.”
Mrs. Popov said: “It is a great privilege for me
to accept the CFO role. I look forward to continuing to work
closely with the rest of our excellent management team, the Board
and our dedicated employees. The capital discipline that has been a
constant in Cemtrex’s strategy, including the prudent management of
our balance sheet and delivering on our commitment to stockholders,
will remain a priority while we proactively execute on our product
rollout during the uncertainties that we face in the current
environment. Despite this, the sales momentum with our Vicon
security technology brand continues and we are on the cusp of
launching our next generation SmartDesk – a disruptive entrant into
the personal workspace segment,” concluded Popov.
Mrs. Popov has over 20 years of extensive
knowledge in Accounting, Finance, Administration, and Operations.
During her career, she held numerous executive-level positions with
increasing responsibilities and has directed highly skilled
financial management teams to support and achieve overall corporate
goals and objectives. She has proven track record in financial
management, evaluating financial management systems and
implementing process improvements, and driving efficiency. Mrs.
Popov joined the Company in 2020 and prior to joining Cemtrex, she
held senior accounting positions at Videri, Bulgari, and Sotheby’s.
Mrs. Popov holds a B.S. in Accounting from Brooklyn College and an
MBA in Administration, Finance from New York Institute of
Technology.
About Cemtrex
Cemtrex, Inc. (CETX) is a leading multi-industry
technology company that is driving innovation in markets such as
Internet of Things (IoT), Augmented and Virtual Reality (AR &
VR), and Artificial Intelligence and Computer Vision (AI & CV)
in a wide range of sectors, including consumer products, industrial
manufacturing, digital applications, and intelligent security &
surveillance systems.www.cemtrex.com.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements relating to the closing of
the offering, gross proceeds from the offering, our new product
offerings, expected use of proceeds, or any proposed fundraising
activities. These forward-looking statements are based on
management’s current expectations and are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those set forth in or implied by such forward
looking statements. Statements made herein are as of the date
of this press release and should not be relied upon as of any
subsequent date. These risks and uncertainties are discussed under
the heading “Risk Factors” contained in our Form 10-K filed with
the Securities and Exchange Commission. All information in
this press release is as of the date of the release and we
undertake no duty to update this information unless required by
law.
Investor Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
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