Synacor Appoints Tim Heasley as Chief Financial Officer
August 01 2018 - 4:06PM
Business Wire
Succeeds Bill Stuart, Who is Retiring
Synacor, Inc. (Nasdaq: SYNC) today announced the appointment of
Tim Heasley as Chief Financial Officer effective today. He succeeds
Bill Stuart, who will be available to Synacor as a senior advisor.
Heasley, who joined Synacor as senior vice president of finance in
May 2018, has been chief financial officer of three mid-market
companies during his 30-plus-year career as a financial executive.
Based in Buffalo, he will report to Synacor CEO Himesh Bhise.
“Tim’s financial acumen and his experience as a public company
chief financial officer make him a strong executive to lead
Synacor’s financial function,” said Bhise. “During his time at
Synacor, Tim has already demonstrated the ability to lead our
finance function. The board and I look forward to working with him
as we execute on our strategy to drive shareholder value.”
“On behalf of the board and the team at Synacor, I would also
like to extend our gratitude to Bill for his many contributions to
Synacor during the past seven years. He has played an important
role in our transformation. We wish him well in his retirement,”
concluded Bhise.
“I am excited to be working with the talented team at Synacor,”
said Heasley. “I have been at Synacor for two months, and I am more
excited about Synacor’s platforms, growth opportunities, and the
value potential of the business than when I started. I look forward
to partnering with Himesh and the team to execute on our growth
strategy and deliver on our financial goals.”
Prior to joining Synacor, Heasley served as CFO of National Oak
Distributors, a national wholesale distributor. From 2015 to 2016,
he was CFO of Motus Integrated Technologies, a global manufacturer
for the automotive industry. He previously was CFO of Kaydon Corp.
(NYSE: KDN) and served in senior finance roles with Gibraltar
Industries (NYSE: ROCK), MRC Industrial Group and SPS Technologies.
Heasley has also served in progressive financial management
positions with a diverse group of leading organizations, including
Johnson Controls, TRW and the Carborundum Company.
Heasley holds an MBA and a B.S. in Accounting from the State
University of New York at Buffalo. He has received several
certifications including Certified Public Accountant (CPA),
Certified Management Accountant (CMA), and Certified in Financial
Management (CFM).
About Synacor
Synacor (Nasdaq: SYNC) is the trusted technology
development, multiplatform services and revenue partner for video,
Internet and communications providers, device manufacturers,
governments and enterprises. Synacor’s mission is to enable its
customers to better engage with their consumers. Its customers use
Synacor’s technology platforms and services to scale their
businesses and extend their subscriber
relationships. Synacor delivers managed portals,
advertising solutions, email and collaboration platforms, and
cloud-based identity management. www.synacor.com
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
"Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements concerning Synacor's expected financial performance
including, without limitation, Tim Heasley’s appointment as chief
financial officer of Synacor. The achievement or success of the
matters covered by such forward-looking statements involves risks,
uncertainties and assumptions. If any such risks or uncertainties
materialize or if any of the assumptions prove incorrect, Synacor’s
results could differ materially from the results expressed or
implied by the forward-looking statements Synacor makes.
The risks and uncertainties referred to above include - but are
not limited to - risks associated with: execution of our plans and
strategies, including execution against our agreement with
AT&T; the pace and degree to which the AT&T portal can be
monetized; the loss of a significant customer; our ability to
obtain new customers; our ability to integrate the assets and
personnel from acquisitions; expectations regarding consumer taste
and user adoption of applications and solutions; developments in
internet browser software and search advertising technologies;
general economic conditions; expectations regarding Synacor’s
ability to timely expand the breadth of services and products
or introduction of new services and products; consolidation
within the cable and telecommunications industries; changes in the
competitive dynamics in the market for online search and digital
advertising; the risk that security measures could be breached
and unauthorized access to subscriber data could be obtained;
potential third party intellectual property infringement claims or
other legal claims against Synacor; and the price volatility of our
common stock.
Further information on these and other factors that could affect
Synacor’s financial results is included in filings it makes with
the Securities and Exchange Commission from time to time, including
the section entitled "Risk Factors" in Synacor’s most recent Form
10-Q filed with the SEC. These documents are available on the SEC
Filings section of the Investor Information section of Synacor’s
website at http://investor.synacor.com/. All information
provided in this release is available as of August 1, 2018, and
Synacor undertakes no duty to update this information.
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version on businesswire.com: https://www.businesswire.com/news/home/20180801005964/en/
Investor Contact:Sharon Merrill AssociatesAndrew Blazier,
617-542-5300ir@synacor.comorPress Contact:SynacorMatt Wolfrom,
716-362-3880VP, Corporate
CommunicationsMatt.Wolfrom@synacor.com
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