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Ault Global Holdings’ Subsidiary, TurnOnGreen Inc., Announces Seth Murdoch Appointed as Chief Financial Officer
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Ault Global Holdings, Inc. (NYSE American: DPW) has appointed Seth Murdoch as the new Chief Financial Officer of its power electronics subsidiary, TurnOnGreen Inc. Murdoch brings over 20 years of global finance experience, including roles with public companies and private equity firms. His expertise spans various sectors, focusing on technology startups, manufacturing, and logistics. The leadership changes aim to bolster TurnOnGreen's product development and growth strategies, with a promise of enhancing shareholder value.
Positive
Appointment of Seth Murdoch as CFO expected to boost TurnOnGreen's financial performance.
Murdoch's extensive experience in managing finance for companies with revenues from $20 million to $1.2 billion.
Anticipated strengthening of TurnOnGreen's operations and strategic growth initiatives.
Negative
None.
Financial and Operations Expert Brings Over 20-Years’ Experience to Leadership Team
LAS VEGAS--(BUSINESS WIRE)--
Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced today that its power electronics business, TurnOnGreen Inc. (“TurnOnGreen” or “TOGI”), formerly known as Coolisys Technologies Corp., has appointed Seth Murdoch to fill the new position of Chief Financial Officer (“CFO”). Mr. Murdoch will report directly to Amos Kohn, the Chief Executive Officer of TOGI.
Seth comes to TOGI with over 20 years of international business expertise managing global finance and operations teams of up to 300 staff, working in senior management finance roles with public companies and most recently with a New York private equity firm. His experience includes overseeing the finance functions and restructuring of more than twenty portfolio companies with annual revenues ranging from $20 million to $1.2 billion. He has proven industry experience with emerging technology startups including EV-oriented solutions, light and heavy manufacturing, contract assembly operations, and distribution and logistics operations. Seth started out his career in public accounting with Arthur Andersen to achieve his CPA and subsequently an MBA.
Amos Kohn, Chief Executive Officer of TOGI said, “We are excited to have Seth join the senior leadership of TurnOnGreen. We expect to benefit from his twenty-plus years of proven industry experience overseeing technology startups and driving emerging businesses in highly competitive sectors and international markets. Seth’s experience in manufacturing, operations, and logistics will serve the company well as we pursue product development, manufacturing plans and growth strategies. A veteran of working in a fast-paced and high-growth environments, we anticipate Seth will build a world-class finance department and be a major contributor to the company’s performance.”
“An organization’s most valuable asset is the evolving intellect of its team, which is an essential mindset to sustain profitable growth where technology changes rapidly and unforeseen disruptive business challenges can surface in an instant,” said Seth Murdoch, CFO of TOGI. “This is where TurnOnGreen is on the mark. I am excited about working with the management team where employees are encouraged and challenged to drive change and think out the box continually.”
Kenneth S. Cragun, CFO of Ault Global Holdings, stated, “As part of our holding company strategy, we strive to support our subsidiaries and invest in growth opportunities. We believe adding Seth to the TurnOnGreen team strengthens this business unit and will ultimately add significant shareholder value for the Company.”
For more information on TurnOnGreen’s product line, please visit www.TurnOnGreen.com.
For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.AultGlobal.com or available at www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holding’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.
About TurnOnGreen Inc.
TurnOnGreen Inc. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen headquarters are located at Milpitas, CA; www.TurnOnGreen.com.
Forward-Looking Statements
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.
