Daktronics, Inc. expands board of directors to eight members and appoints new director
December 07 2022 - 3:47PM
Daktronics, Inc. (NASDAQ - DAKT) today announced the expansion of
its Board of Directors to eight members and the appointment of
Howard I. Atkins as the eighth director.
The addition of Mr. Atkins is part of the
Board’s ongoing refreshment process. He was selected pursuant to
the Cooperation Agreement
with Daktronics shareholder Prairieland Holdco,
LLC (“Prairieland”) and its affiliates, including Andrew
Siegel (collectively, the “Prairieland Group”), which was
announced on July 27, 2022.
Andrew Siegel stated, “The Board conducted a
comprehensive search and recruitment effort, and I am pleased that
it resulted in the selection of Howard. He will bring to the
Daktronics Board world-class financial management acumen and
experience, and I look forward to working with him as the entire
Board endeavors to enhance value for all shareholders.”
Reece A. Kurtenbach, chairman, president and CEO commented “The
Board has expanded our ongoing refreshment to support the Company’s
long-term growth and value creation strategies. Howard’s extensive
expertise and experience, especially in strategic development,
margin improvement, and financing, further enhances the Board’s mix
of perspectives. We welcome Howard to the Board and look forward to
collaborating with him to lead the Company to success in the
emerging opportunities in our industry.”
Howard noted “It is an honor to be joining the
Daktronics Board. I am looking forward to applying my global
experiences as an investment professional, public company chief
financial officer, and public company director to support the
Daktronics leadership team in executing strategies to create long
term value for its stakeholders.”
Mr. Atkins term is through the 2023 annual
meeting. Mr. Atkins will serve on the Board’s compensation
committee.
About Howard I. AtkinsHoward I.
Atkins currently owns and manages HIA Capital, a business
consulting and investment firm. In 2011, Mr. Atkins retired as the
Senior Executive Vice President and Chief Financial Officer of
Wells Fargo & Company, a banking and financial services
company, where he was responsible for Wells Fargo’s financial
management functions, investment portfolios, investor relations,
capital management and corporate properties functions from 2001 to
2011. A 37-year veteran of the financial services industry, Mr.
Atkins previously served as Executive Vice President and Chief
Financial Officer of New York Life Insurance Company; Chief
Financial Officer of Midlantic Corporation and Corporate Treasurer
of Chase Manhattan Bank. In addition, Mr. Atkins served as a
Director for Occidental Petroleum Corporation from 2010-2019 and
for Ingram Micro from 2004-2017.
About DaktronicsDaktronics has
strong leadership positions in, and is the world's largest supplier
of, large-screen video displays, electronic scoreboards, LED text
and graphics displays, and related control systems. The company
excels in the control of display systems, including those that
require integration of multiple complex displays showing real-time
information, graphics, animation, and video. Daktronics designs,
manufactures, markets and services display systems for customers
around the world in four domestic business units: Live
Events, Commercial, High School Park and Recreation, and
Transportation, and one International business unit. For more
information, visit the company's website at: www.daktronics.com,
email the company at investor@daktronics.com, call (605) 692-0200
or toll-free (800) 843-5843 in the United States, or write to the
company at 201 Daktronics Dr., P.O. Box 5128, Brookings, S.D.
57006-5128.
Safe Harbor StatementCertain
statements made in this press release are forward-looking
statements that are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements, which are frequently indicated by terms
such as “believe,” “continue,” “growth,” “intends,” and similar
terms, are only expectations, and involve known and unknown risks
and uncertainties, which may cause actual results in future periods
to differ materially from what is currently anticipated. Factors
that may cause actual results in future periods to differ
materially from current expectations, which are identified in the
Company’s most recent Annual Report on Form 10-K for the year
ended April 30, 2022, which was filed with
the SEC on June 16, 2022, and other filings with
the SEC, including but not limited to, the risk factors
discussed therein, could cause actual results to differ materially
from current expectations. The current global economic climate,
length and severity of the COVID-19 pandemic, supply chain
disruptions, the current Russia-Ukraine war and recent
sanctions and exports controls targeting Russia, and
uncertainty surrounding potential changes
in U.S. policies and regulations may amplify many of
these risks. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
For more information contact:INVESTOR
RELATIONS:Sheila M. Anderson, Chief Financial OfficerTel (605)
692-0200Investor@daktronics.com
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