CSP Inc. Promotes Two Senior Executives
August 17 2017 - 2:30PM
CSP Inc. (NASDAQ:CSPI), a provider of advanced security
products and security services, as well as IT technology managed
services for diverse applications, today announced the promotion of
two senior executives. Mike Newbanks has been appointed as Vice
President of Finance and Chief Accounting Officer and Gary
Southwell has been promoted to Vice President and General Manager
of CSPi’s High Performance Products (HPP) segment, which includes
cybersecurity products.
“Gary’s wealth of data privacy and compliance knowledge and
demonstrated track record is a key asset to our HPP division,” said
Chief Executive Officer Victor Dellovo. “Under his continued
leadership, we will advance our efforts to reposition CSPi as a
market-leading security solutions provider and deliver on our
mission to provide customers with solutions that will secure data
no matter where it is located or how it is being used.”
“Mike’s strong financial acumen and proven track record make him
a well-qualified leader of our controllership organization,”
continued Dellovo. “Since he joined the company in 2003, Mike has
played an integral role in leading the business through several
accounting, HR and operational applications development and
enhancements, as well SOX and US GAAP compliance, audit reviews and
mergers and acquisitions. I am confident that he will be an
invaluable addition to our corporate leadership team."
As Vice President and General Manager of the HPP segment,
Southwell, who joined CSPi in 2016 as its General Manager will be
responsible for the development of advanced cyber threat solutions
designed to speed up breach identification while decreasing
incident response time. Southwell will report to CEO Victor Dellovo
and, as announced in a separate press release today, will lead a
team that includes recently hired cybersecurity heavy weights Tim
Ober, Chief Technology Architect, and Joe D’Agastino, Director of
Worldwide Sales.
Southwell has more than 25 years of strategic business and
security planning experience. Prior to joining CSPi in 2016,
Southwell founded cyber security solution provider Seceon Networks
in 2015. Prior to that he was VP of Product Development for
Audinate from 2012 to 2014, Chief Technology Officer for BTI
Systems from 2010 to 2012 and VP of Solutions Marketing for BTI
Systems from 2008 to 2010. Earlier in his career he held various
positions at leading network solution companies including Juniper
Networks, Ciena and Nortel Networks.
As the Vice President of Finance and Chief Accounting Officer,
Newbanks will manage the day-to-day financial operations that are
an integral part of the success and profitability of CSPi. His
responsibilities will include leading the controllership
organization with a focus on financial reporting and controls, and
accounting. Newbanks, who will report to Chief Financial Officer
Gary Levine, succeeds John Leydon, who will remain on board for a
transition period.
“We are grateful for John’s contributions over the past 2 and a
half years as a senior accounting and financial expert on our team.
We value the continuity that he will provide over the transition
period and we wish him the best of luck in his future endeavors,”
Dellovo concluded.
Prior to his appointment as VP of Finance and CAO, Newbanks
served as the US Division Controller of CSPi’s Technology Solutions
(TS) division since 2003. Prior to that, he served in various
accounting roles at MODCOMP, Inc., Technisource, ANC Rental
Corporation, Alamo Rental Car, and Eastern Airlines. Newbanks has a
Bachelor of Science in Business Administration from the University
of Central Florida in Orlando.
About CSP Inc.
CSPi (NASDAQ:CSPI) maintains two distinct and dynamic divisions
– High Performance Products and Technology Solutions – with a
shared vision for technology excellence. CSPi’s High Performance
Products division offers extreme-performance Ethernet products for
diverse applications, including cybersecurity, financial trading,
content creation/distribution, storage networking applications, as
well computer signal processing systems. CSPi’s Technology
Solutions division provides innovative technology solutions for
network solutions, wireless & mobility, unified communications
& collaboration, data center solutions, advanced security,
along with professional and managed services across those
technology focus areas. CSPi Technology Solutions works with the
world’s leading IT software and infrastructure companies to create
solutions for the unique IT requirements of its customers. For more
information, please visit www.cspi.com.
Safe Harbor
The Company wishes to take advantage of the “Safe Harbor”
provisions of the Private Securities Litigation Reform Act of 1995
with respect to statements that may be deemed to be forward-looking
under the Act. Such forward-looking statements may include, but are
not limited to, advance our efforts to reposition CSPi as a
market-leading security solutions provider and deliver on our
mission to provide customers with solutions that will secure data
no matter where it is located or how it is being used.
The Company cautions that numerous factors could cause actual
results to differ materially from forward-looking statements made
by the Company. Such risks include general economic conditions,
market factors, competitive factors and pricing pressures, and
others described in the Company's filings with the SEC. Please
refer to the section on forward-looking statements included in the
Company's filings with the Securities and Exchange
Commission.
Contact:
Gary Levine
Chief Financial Officer
CSP Inc.
Tel: 978.954.5040
Fax: 978.455.3251
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