VINCO VENTURES BOARD APPROVES NEW EXECUTIVE LEADERSHIP TEAM NAMING JAMES ROBERTSON CEO & PRESIDENT AND CHRIS POLIMENI CFO & COO
Vinco Ventures (Nasdaq: BBIG) announced a new executive management team on April 20, 2023, with James Robertson as Chief Executive Officer and President and Chris Polimeni as Chief Financial Officer and Chief Operating Officer. The board's decision aims to pivot towards growth initiatives, moving away from legacy challenges. Robertson, formerly Editor-In-Chief of Us Weekly, brings extensive media experience, while Polimeni offers over 30 years of financial oversight. This leadership change is part of a broader strategy to diversify revenue and enhance digital content offerings. The new team is set to drive Vinco's next phase of growth immediately.
- Appointment of experienced executives James Robertson and Chris Polimeni to lead the company.
- Focus on aggressive growth strategies and diversifying revenue streams.
- Robertson's background in media and marketing could enhance brand engagement.
- Concerns may arise regarding continuity and adaptation to new leadership in a rapidly evolving industry.
SYRACUSE, N.Y., April 20, 2023 /PRNewswire/ -- Vinco Ventures, Inc. (Nasdaq: BBIG) ("Vinco Ventures," "Vinco," or the "Company"), a digital media and content technologies company, today announced that the board of directors has approved a new executive management team naming James Robertson Chief Executive Officer and President and Chris Polimeni Chief Financial Officer and Chief Operating Officer. The announcement follows a letter to shareholders from Vinco Ventures Executive Chairman of the Board of Director Rod Vanderbilt that outlined the multi-faceted strategic plan for driving growth and shareholder value.
"Today marks a critical moment for Vinco Ventures as we shift our focus from the navigation of legacy roadblocks to assertive strategic growth initiatives that will further diversify our business and enhance the opportunities for new avenues of revenue growth," said Vanderbilt. "The Board's unanimous approval of James and Chris underscores our commitment to moving forward and developing sound strategies and opportunities to generate new and innovative revenue streams for the Company."
The new Chief Executive Officer and President, James Robertson, joins Vinco Ventures from a360media where he held the position of Editor-In-Chief of Us Weekly. He was responsible for all content across the prestigious brand's multimedia platforms and worked closely with advertising and marketing teams to generate large-scale campaigns and new revenues. He has previously served in other senior leadership roles including being appointed as the youngest Editor-In-Chief in tabloid media at the helm of OK! magazine while also overseeing all newsgathering as a Senior Executive Editor and Head of News for American Media Inc., celebrity brands. A seasoned and respected journalist, he is also a published author and experienced Story Producer and Executive Producer with credits in various TV specials, investigative documentaries, and longform podcast series productions.
Chris Polimeni joins Vinco Ventures as Chief Finance Officer and Chief Operating Officer. Polimeni previously served as Executive Vice President - CFO/COO of Accelerate360 Holdings, LLC & Subsidiaries, the parent company of a360 Media, LLC (formerly American Media, LLC.). He also served in the same capacity at American Media, LLC for 12 years prior to the consolidation of American Media, LLC with Accelerate360 Holdings, LLC in 2020. He has been involved in acquisitions, corporate finance, SEC reporting and corporate management for more than thirty years. He brings financial and operational expertise, as well as accomplished experience in both management and financial oversight of large content companies.
The appointments take effect immediately and Robertson and Polimeni are already working to set the stage for Vinco's next phase of our growth and overall strategy to provide digital content and advertising across the Vinco ecosystem.
About Vinco Ventures
Vinco Ventures (Nasdaq: BBIG) is a technology company specializing in converting content to digital and social platforms. Through its companies, including Lomotif Private Limited, MindTank LLC, and AdRized LLC, it is focused on the development of new and innovative revenue streams across multiple digital media platforms and content technologies.
For more information, please visit https://investors.vincoventures.com.
Forward-Looking Statements and Disclaimers
This press release contains "forward-looking statements" as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which are based upon beliefs of, and information currently available to, Vinco Ventures' management as well as estimates and assumptions made by Vinco Ventures' management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words "estimate," "expect," "intend," "believe," "plan," "anticipate," "projected," and other words or the negative of these terms and similar expressions as they relate to the applicable company or its management identify forward-looking statements. Such statements reflect the current view of Vinco Ventures with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Vinco Ventures and its subsidiaries and consolidated variable interest entities including Lomotif, their industry, financial condition, operations and results of operations. Such factors include, but are not limited to, the expected risks and benefits from the proposed increase in Vinco Ventures' authorized shares as described in our proxy statement, Vinco Ventures' investments in ZVV Media Partners, LLC, Lomotif Private Limited, PZAJ Holdings, LLC and related growth initiatives and strategies such as the blended media, cross-platform distribution strategy, the expected benefits of Lomotif's participation in and sponsorship of live entertainment events, the expected benefits from acquisition of AdRizer and planned integration of the AdRizer technology with Lomotif and Honey Badger and synergies between AdRizer, Lomotif and Honey Badger, the regulatory risks with the NFT and blockchain business lines and such other risks and uncertainties described more fully in documents filed by Vinco Ventures and Cryptyde with or furnished to the Securities and Exchange Commission, including the risk factors discussed in Vinco Ventures' Annual Report on Form 10-K for the period ended December 31, 2021 filed on April 15, 2022 which is available at www.sec.gov. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.
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SOURCE Vinco Ventures
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