Converge Technology Solutions Corp. Announces Board and Management Changes
Converge Technology Solutions Corp. (CTSDF) announced significant changes to its board and management team during its annual general meeting. Thomas Volk will become Board Chair, while Darlene Kelly joins the board, both bringing substantial industry experience to aid in expanding operations into Europe. Matt Smith is appointed interim CFO, succeeding Carl Smith, who departs for other opportunities. Additionally, Julianne Belaga is named Chief Legal Officer, reinforcing the company's focus on growth and acquisitions. These changes aim to position Converge as a leading IT services firm globally.
- Appointment of experienced Thomas Volk as Board Chair, expected to enhance leadership as the company expands in Europe.
- Darlene Kelly's addition to the board brings extensive financial and operational expertise.
- Matt Smith's promotion to interim CFO ensures continuity and leverages his previous contributions.
- Julianne Belaga's appointment as Chief Legal Officer supports future acquisitions.
- Departure of Carl Smith may create a leadership gap during a critical growth period.
TORONTO, ON and GATINEAU, QC, June 23, 2021 /PRNewswire/ - Converge Technology Solutions Corp. ("Converge" or "the Company") (TSX:CTS) (FSE:0ZB) (OTCQX:CTSDF) a software-enabled IT & Cloud Solutions provider, is pleased to announce proposed changes to its board of directors to be approved at today's annual general meeting, as well as to certain roles within its management team.
As previously announced, Thomas Volk, a seasoned and experienced executive within the IT services industry in North America and Europe, will assume the role of Board Chair and Darlene Kelly, an experienced leader in the Canadian IT services sector, will join the Company's board of directors following the Company's annual general meeting today. "We are excited to have Thomas assume the role of Board Chair," said Shaun Maine, CEO of Converge. "His leadership and guidance will be instrumental as we expand our footprint into Europe and accelerate our managed services growth. We are also delighted to welcome Darlene to the Converge Board," continued Mr. Maine. "Darlene brings years of financial and operational experience and accomplishment within the industry and we look forward to working with her as we move into our next phase of growth." In addition, Brian Phillips, currently an independent director, will be appointed to act as Lead Director of the board of directors.
Converge also announces the appointment of Matt Smith as interim CFO and the departure of Carl Smith. "I would like to thank Carl for his contribution to Converge and for his role in helping us transform our balance sheet to position us for exciting growth in the years to come. We wish him well as he leaves us to pursue other endeavors outside the IT services industry and thank him for ensuring a smooth transition to Matt," said Mr. Maine. "I would also like to acknowledge the fantastic job that Matt has done since he joined Converge last year, and the board and I are excited to work even more closely with Matt in this new role."
In addition, Converge announces the appointment of Julianne Belaga as Chief Legal Officer. "Julianne has worked with us since the time of completing our first acquisition and she is a consummate professional," said Mr. Maine. "As we continue to focus on acquisitions and as we expand our activities outside North America, having someone of Julianne's talent and experience in this new role will be an important part of our future success." Finally, Converge announces that it has retained Shubo Rakhit as a Senior Advisor to the Company. Shubo has years of experience as a finance and investment banking professional, including working on numerous global public equity and debt financing and M&A transactions throughout his career. "We are very fortunate to have the opportunity to work more closely with Shubo in this new role and believe he will be an important part of our team as we execute on our goals," continued Mr. Maine. "Our clear focus is to become one of the leading IT services firms globally, and we strongly believe that the caliber of the team we have assembled, including the promotions and additions announced today, will help us achieve those goals."
About Converge
Converge Technology Solutions Corp. is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge's regional sales and services organizations deliver advanced analytics, cloud, and cybersecurity offerings to clients across various industries. The Company supports these solutions with managed services, digital infrastructure, and talent expertise offerings across all major IT vendors in the marketplace. This multi-faceted approach enables Converge to address the unique business and technology requirements for all clients in the public and private sectors. For more information, visit convergetp.com.
Forward-Looking Statements
This press release contains certain "forward–looking information" and "forward–looking statements" (collectively, "forward–looking statements") within the meaning of applicable Canadian securities legislation regarding Converge and its business. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could, "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward–looking statements. Forward–looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward–looking statements. Except as required by law, Converge assumes no obligation to update the forward–looking statements of beliefs, opinions, projections, or other factors, should they change. The reader is cautioned not to place undue reliance on forward–looking statements. For a detailed description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's annual information form, which is available on SEDAR under the Company's profile at www.sedar.com, and the consolidated financial statements of the Company for the years ended December 31, 2020 and 2019, together with the corresponding Management's Discussion and Analysis for additional risk factors described under "Risks and Uncertainties".
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SOURCE Converge Technology Solutions Corp.
FAQ
What management changes were announced by Converge Technology Solutions Corp. on June 23, 2021?
How will the new Board Chair Thomas Volk impact Converge's strategy?
Who has taken over as interim CFO for Converge Technology Solutions Corp.?
What expertise does Darlene Kelly bring to Converge's board?
What is the significance of Julianne Belaga's appointment as Chief Legal Officer?
