CreditRiskMonitor Announces Appointment of Jennifer Gerold as Chief Financial Officer and David Reiner as Chief Accounting Officer

Rhea-AI Summary

CreditRiskMonitor (OTCQX:CRMZ) announced the appointment of Jennifer Gerold as Chief Financial Officer and David Reiner as Chief Accounting Officer, effective May 23, 2024.

Gerold, succeeding Steven Gargano, brings data-driven decision-making expertise aimed at supporting the company’s profitable growth objectives. Reiner, with 11 years of increasing responsibility at the company, will enhance accounting, HR, and facilities processes.

CreditRiskMonitor, a leader in predictive financial risk analytics, provides SaaS products like CreditRiskMonitor and SupplyChainMonitor, aiding corporate credit and supply chain professionals in managing financial risk efficiently.

These appointments align with the company's operational improvement initiatives, positioning it for sustainable growth.

Positive

• Appointment of Jennifer Gerold as CFO brings strategic insights aimed at profitable growth.
• David Reiner's promotion to CAO reflects his extensive experience and contributions over 11 years.
• Gerold's background in data-driven decision making aligns with the company’s objectives.
• CreditRiskMonitor is a leader in predictive financial risk analytics and technological innovations.
• Company's core products, CreditRiskMonitor and SupplyChainMonitor, aid in managing financial risk efficiently.
• SaaS products provide access to comprehensive commercial credit reports and bankruptcy risk analytics.
• High accuracy of FRISK (96%) and PAYCE (80%) scores for predicting financial stability.

Negative

• Transition in CFO position might cause temporary disruptions in financial strategy execution.
• Potential risks associated with the new CFO and CAO adapting to their roles and new responsibilities.
• The company's future growth depends on the new executives' ability to deliver on the outlined objectives.

VALLEY COTTAGE, NY / ACCESSWIRE / May 30, 2024 / CreditRiskMonitor (OTCQX:CRMZ) today announced that its Board of Directors has appointed Jennifer Gerold as Chief Financial Officer and David Reiner as Chief Accounting Officer, effective May 23, 2024. Ms. Gerold replaces Steven Gargano, who had served as Senior Vice President and Chief Financial Officer since April 1, 2020.

"We are excited to have Jennifer taking over as CFO and are confident that her strategic insights and background in data-driven decision-making will help us pursue our profitable growth objectives," said Mike Flum, CEO and President. "We are equally thrilled to have David become our CAO as his commitment and contributions to CreditRiskMonitor have been numerous during his 11 years of increasing responsibility. Both moves support our operational improvement initiatives and will help position CreditRiskMonitor for sustainable growth in the future. I congratulate Jenn and Dave on these appointments and can't wait to build with them for years to come."

Ms. Gerold expressed her excitement stating, "I am honored to take on this new role at CreditRiskMonitor, a leader in predictive financial risk analytics, at such a pivotal moment in the company's growth journey. Our technological innovations are driving impactful SaaS products in credit and supply chain risk management, and empowering clients to make more informed B2B decisions. I could not be more eager to chart the tremendous growth opportunities on the road ahead."

Mr. Reiner conveyed his enthusiasm stating, "I am delighted to take on a leadership role at CreditRiskMonitor and drive our accounting, human resources, and facilities processes as we enter our second quarter-century of operation. It's great to be recognized for my contributions thus far and I look forward to constantly improving our protocols to drive improved performance."

A full copy of the Form 8-K can be found at https://crmz.ir.edgar-online.com/

Overview

CreditRiskMonitor (OTCQX:CRMZ) sells a suite of web-based, SaaS subscription products providing access to comprehensive commercial credit reports, bankruptcy risk analytics, financial and payment information, and curated news on public and private companies worldwide. Our core products, CreditRiskMonitor^® and SupplyChainMonitor™, help corporate credit and supply chain professionals stay ahead of and manage financial risk more quickly, accurately, and cost-effectively. Well over a thousand corporations, including nearly 40% of the Fortune 1000, rely on our proprietary, AI-driven predictive bankruptcy analytics, including the 96%-accurate FRISK^® score and 80%-accurate PAYCE^® score to analyze and monitor their B2B counterparty financial stability continuously. Subscribers also benefit from the Company's Trade Contributor Program which processes approximately $3 trillion of transaction data annually to provide payment performance information on over 5 million businesses worldwide. For more information, visit www.creditriskmonitor.com.

Safe Harbor Statement

Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", "believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, risks associated with the COVID-19 pandemic and those risks, uncertainties and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.

CONTACT:

CreditRiskMonitor.com, Inc.
Mike Flum, CEO
(845) 230-3037
ir@creditriskmonitor.com

SOURCE: CreditRiskMonitor.com, Inc.

View the original press release on accesswire.com

FAQ

Who is the new CFO of CreditRiskMonitor as of May 23, 2024?

Jennifer Gerold has been appointed as the new Chief Financial Officer of CreditRiskMonitor as of May 23, 2024.

Who has been appointed as the Chief Accounting Officer for CreditRiskMonitor?

David Reiner has been appointed as the Chief Accounting Officer for CreditRiskMonitor.

What are the key roles of the newly appointed CFO and CAO at CreditRiskMonitor?

The CFO will focus on data-driven decision-making for profitable growth, while the CAO will enhance accounting, HR, and facilities processes.

What are the main products offered by CreditRiskMonitor?

CreditRiskMonitor offers SaaS products like CreditRiskMonitor and SupplyChainMonitor, which provide commercial credit reports and bankruptcy risk analytics.

What are the accuracy rates of CreditRiskMonitor's predictive bankruptcy analytics scores?

CreditRiskMonitor's FRISK score has a 96% accuracy rate, and the PAYCE score has an 80% accuracy rate.