TJ Kennedy, Independent Director on Wrap’s
Board, to Serve as Chief Executive Officer Following a Thorough
Search Process
Kevin Mullins, Former President and Chief
Executive Officer of Intrensic, to Serve as President
New Appointments of Industry Veterans Will
Support Wrap’s Pursuit of Growth in $50+ Billion Estimated
Addressable Market
Wrap Technologies, Inc. (Nasdaq: WRAP) (“Wrap” or the
“Company”), a global leader in innovative public safety
technologies and services, today announced that it has appointed TJ
Kennedy as Chief Executive Officer and Kevin Mullins as President,
effective immediately.
The appointments of Messrs. Kennedy and Mullins reflect Wrap’s
commitment to evolving and maturing as a technology company in the
rapidly growing public safety solutions market. They have decades
of experience helping technology and public safety companies build
growth-oriented cultures and platforms around innovative products
and solutions. Wrap’s Board of Directors (the “Board”) has
determined that Messrs. Kennedy and Mullins have the right
backgrounds and expertise to grow global demand for the BolaWrap
150 and ultimately diversify the Company’s suite of offerings for
existing customers and new segments of the market.
During the Board’s search process, Messrs. Kennedy and Mullins
demonstrated a comprehensive understanding of the steps required to
attain scale and market leadership over the long-term. They are
committed to implementing a structured operating plan to enhance
Wrap’s capabilities in areas such as research and development,
sales, supply chain and strategic investments. The Board is
confident that this rebuilt management team will bring a new level
of strategic thinking and operational expertise to Wrap.
Wayne Walker, Chairman of the Board, commented:
“Our Board has spent the past twelve weeks searching for the
right leaders to oversee Wrap’s evolution into a more dynamic and
diversified public safety solutions provider. We are pleased that
our thorough process has resulted in the appointments of TJ and
Kevin, who are uniquely equipped to develop a broader set of
technology-driven offerings to complement the BolaWrap 150. TJ and
Kevin bring proven track records of helping companies innovate,
commercialize, and sell high quality products and services to
global law enforcement. They have also demonstrated to us that they
have a firm understanding of Wrap’s opportunity set and see
practical ways to meet the needs of existing and new
customers.”
TJ Kennedy Biography
Mr. Kennedy is a seasoned corporate leader with nearly three
decades of experience in the technology and public safety sectors.
Throughout his career, he has driven organizational excellence and
executed multifaceted business strategies that have produced strong
results for customers, employees, shareholders and first
responders. He also brings unique perspective as a law enforcement
officer in the field.
Notably, Mr. Kennedy previously led one of the largest public
safety technology endeavors in recent history, FirstNet, which
provides mission critical connectivity to police officers,
firefighters and EMS personnel across the United States. The
FirstNet authority oversees the public safety LTE network in all 50
states, five territories and the District of Columbia, while
serving more than 3 million first responder connections and over
19,500 public safety agencies. The success of FirstNet has led to
lower costs for public safety, more choices and specialized
solutions that include hundreds of approved devices and public
safety applications.
Additionally, Mr. Kennedy has served as a member of Wrap’s Board
since 2021, providing him unique insight into the Company’s
go-forward opportunities. Most recently, he was the Chief Executive
Officer, President, and a director of Qumu, Inc., a SaaS company,
since July 2020.
Kevin Mullins Biography
Kevin Mullins is an experienced corporate executive with a track
record of taking public safety technology companies from concept to
growth to profitability. Some of his notable accomplishments
include creating an innovative body worn camera and bringing a
SaaS-based digital evidence management system company to market. He
possesses a deep understanding of global public safety technology
industries with extended sales cycles, and city and county
budgetary requirements. For the past eight years, he has served as
the President and Chief Executive Officer of Intrensic, a premier
digital evidence and video management software solutions company.
During his tenure, he led the development of new technology and set
the direction of the business, and was instrumental in marketing
its solutions to public safety agencies.
Scot Cohen, co-founder, director and a sizable shareholder of
Wrap, added:
“We believe Wrap has tremendous potential to grow its footprint
in what is currently estimated to be a more than $50 billion
addressable market. When we look at TJ and Kevin’s backgrounds, we
see two leaders that have the ability to help us reach more
customers with more products and more solutions as this market
evolves. As a sizable shareholder, I could not be more pleased with
them being at the helm.”
About WRAP
WRAP Technologies (Nasdaq: WRAP) is a global leader in
innovative public safety technologies and services. WRAP develops
creative solutions to complex issues and empowers public safety
officials to protect and serve their communities through its
portfolio of advanced technology and training solutions.
WRAP’s BolaWrap® Remote Restraint device is a patented,
hand-held pre-escalation and apprehension tool that discharges a
Kevlar® tether to temporarily restrain uncooperative suspects and
persons in crisis from a distance. Through its many field uses and
growing adoption by agencies across the globe, BolaWrap is proving
to be an effective tool to help law enforcement safely detain
persons without injury or the need to use higher levels of
force.
WRAP Reality, the Company’s virtual reality training system, is
a fully immersive training simulator and comprehensive public
safety training platform providing first responders with the
discipline and practice in methods of de-escalation, conflict
resolution, and use-of-force to better perform in the field.
WRAP’s headquarters are in Tempe, Arizona. For more information,
please visit wrap.com.
Trademark Information
BolaWrap, Wrap and Wrap Reality are trademarks of Wrap
Technologies, Inc. All other trade names used herein are either
trademarks or registered trademarks of the respective holders.
Cautionary Note on Forward-Looking
Statements - Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to: statements regarding the Company's overall business; total
addressable market; and, expectations regarding future sales and
expenses. Words such as "expect," "anticipate," "should,"
"believe," "target," "project," "goals," "estimate," "potential,"
"predict," "may," "will," "could," "intend," and variations of
these terms or the negative of these terms and similar expressions
are intended to identify these forward-looking statements.
Moreover, forward-looking statements are subject to a number of
risks and uncertainties, many of which involve factors or
circumstances that are beyond the Company's control. The Company's
actual results could differ materially from those stated or implied
in forward-looking statements due to a number of factors, including
but not limited to: the Company's ability to successfully implement
training programs for the use of its products; the Company's
ability to manufacture and produce product for its customers; the
Company's ability to develop sales for its new product solution;
the acceptance of existing and future products, including the
acceptance of the BolaWrap 150; the risk that distributor and
customer orders for future deliveries are modified, rescheduled or
cancelled in the normal course of business; the availability of
funding to continue to finance operations; the complexity, expense
and time associated with sales to law enforcement and government
entities; the lengthy evaluation and sales cycle for the Company's
product solution; product defects; litigation risks from alleged
product-related injuries; risks of government regulations; the
business impact of health crises or outbreaks of disease, such as
epidemics or pandemics; the ability to obtain export licenses for
countries outside of the US; the ability to obtain patents and
defend IP against competitors; the impact of competitive products
and solutions; and the Company's ability to maintain and enhance
its brand, as well as other risk factors mentioned in the Company's
most recent annual report on Form 10-K, quarterly report on Form
10-Q, and other SEC filings. These forward-looking statements are
made as of the date of this press release and were based on current
expectations, estimates, forecasts and projections as well as the
beliefs and assumptions of management. Except as required by law,
the Company undertakes no duty or obligation to update any
forward-looking statements contained in this release as a result of
new information, future events or changes in its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220418005221/en/
For Investors: Paul M. Manley, (612) 834-1804
pmanley@wrap.com
For Media: Longacre Square Partners Greg Marose / Ashley
Areopagita 646-386-0091 gmarose@longacresquare.com /
aareopagita@longacresquare.com
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