Applied UV, Inc. Appoints Mike Riccio as Chief Financial Officer
Applied UV, Inc. (AUVI) announced the appointment of Mike Riccio as Chief Financial Officer, effective April 5, 2021. Riccio brings over 25 years of experience, having served as CFO and Treasurer at Panasonic North America, where he improved financial performance significantly. His leadership will support Applied UV's growth strategy and enhance shareholder value. CEO Q Saeed emphasized the strength of the management team with Riccio's addition, positioning the company to drive revenue growth and tackle infection control technologies in various markets.
- Appointment of Mike Riccio as CFO brings extensive experience in corporate finance and operational leadership.
- Riccio's prior success in enhancing financial performance at Panasonic North America may positively influence Applied UV's strategies.
- Strengthens management team to support growth strategy and drive revenue.
- Transition in CFO role could lead to temporary disruption in financial management as Riccio acclimates.
MOUNT VERNON, NY / ACCESSWIRE / April 5, 2021 / Applied UV, Inc. (NASDAQ:AUVI) ("Applied UV" or the "Company"), an infection control technology company that applies the power of narrow-range ultraviolet light ("UVC") for surface areas and catalytic bioconversion technology for air purification to destroy pathogens safely, thoroughly, and automatically, announced that Mike Riccio, CPA, is appointed Chief Financial Officer, effective April 5, 2021. Mr. Riccio is a highly accomplished CFO who brings an extensive array of financial experience to Applied UV, including a background with global public companies in corporate finance, operations management systems, and corporate M&A planning and integration. He joins Applied UV to oversee the company's finance team reporting directly to the Chief Executive Officer.
Mike Riccio, appointed CFO of Applied UV
Mr. Riccio joins Applied UV with broad experience in corporate and operational finance, most recently as Chief Financial Officer & Treasurer of Panasonic Corporation of North America, leading the finance organization that supports the principal North American subsidiary of Osaka, Japan-based Panasonic Corporation. Throughout his career at the Panasonic subsidiary, he demonstrated a track record as a results-oriented leader with a strong record of improving financial performance across a variety of sectors, including consumer, systems and solutions, and industry. Working with other executives, Mr. Riccio was part of the team that defined and implemented strategies driving significant growth of Panasonic North America revenue .
"Mike brings to Applied UV more than 25 years of leadership roles with a proven track record in complex financial organizations, where he was responsible for leading global teams supporting multi-billion-dollar operations within a dynamic market environment," said Q Saeed, Chief Executive Officer of Applied UV. "He possesses a profound understanding of global production structures and has experience in leading organizational transformation, as well as building world class financial organizations. With Mike's appointment, we have a strong management team in place to continue the execution of our strategy to drive revenue growth and build shareholder value."
Mr. Riccio stated, "I look forward to joining Applied UV's leadership team and leading its finance organization to contribute to its future success as the company progresses to the next phase of its growth strategy."
About Mike Riccio
Before joining Applied UV, Mr. Riccio served as Chief Financial Officer & Treasurer of Panasonic Corporation of North America. He joined Panasonic in October 1986 from Sealed Air Corporation, where he was the Corporate Accounting Manager. Prior to Sealed Air, Mr. Riccio was a Senior Auditor at CohnReznick. Mr. Riccio is a Certified Public Accountant (CPA) and holds a B.A. in accounting from Rutgers University and an MBA in finance from Rutgers Business School.
About Applied UV
Applied UV is focused on the development and acquisition of technology that address infection control in the healthcare, hospitality, commercial and municipal markets. The Company has two wholly owned subsidiaries - SteriLumen, Inc. ("SteriLumen") and Munn Works, LLC ("Munn Works"). SteriLumen's connected platform for Data Driven Disinfection™ applies the power of ultraviolet light (UVC) to destroy pathogens safely, thoroughly, and automatically, addressing the challenge of healthcare-acquired infections ("HAIs"). Targeted for use in facilities that have high customer turnover such as hospitals, hotels, commercial facilities, and other public spaces, the Company's Lumicide™ platform uses UVC LEDs in several patented designs for infection control in and around high-traffic areas, including sinks and restrooms, killing bacteria, viruses, and other pathogens residing on hard surfaces within devices' proximity. The Company's patented in-drain disinfection device, Lumicide Drain, is the only product that addresses this critical pathogen intensive location. SteriLumen's Airocide® products for air purification, developed by NASA and FDA Cleared as class II medical devices, utilize a proprietary photo-catalytic bioconversion technology that draws air into a reaction chamber that converts damaging molds, microorganisms, dangerous pathogens, destructive VOCs and biological gasses into harmless water vapor without producing ozone or other harmful byproducts. Airocide® applications include healthcare, hospitality, grocery chains, wine making facilities, commercial real estate, schools, dental offices, and homes.
For more information about Applied UV, Inc., and its subsidiaries, please visit the following websites: https://www.applieduvinc.com/; https://sterilumen.com/; and, https://munnworks.com/.
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of Applied UV concerning its business strategy, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results.
Contact:
Applied UV Investor Relations
Kevin McGrath
TraDigital IR
+1-646-418-7002
kevin@tradigitalir.com
SOURCE: Applied UV, Inc.
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