DSS Promotes Todd D. Macko to CFO

Rhea-AI Summary

Document Security Systems, Inc. (DSS) promoted Todd D. Macko to Chief Financial Officer effective August 16, 2021. With over 25 years of public and corporate accounting experience, Macko previously served as Vice President of Finance at DSS. His expertise includes financial planning, budgeting, and mergers and acquisitions. CEO Frank D. Heuszel expressed confidence in Macko's ability to support the company's long-term strategy. DSS operates in multiple sectors including blockchain security and renewable energy, focusing on shareholder value through potential spin-offs of subsidiaries.

Positive

• Todd D. Macko brings extensive experience as CFO, potentially enhancing financial oversight.
• Macko's background in corporate strategy may drive growth and operational improvements.

Negative

• None.

Macko brings 25 years of public and corporate accounting experience to role

ROCHESTER, N.Y., Aug. 17, 2021 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational company operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets, today announced Todd D. Macko has been promoted to Chief Financial Officer effective August 16, 2021.

Mr. Macko is a Certified Public Accountant with over 25 years of financial management, corporate strategy, and executive business leadership, and brings a wealth of experience to his role at DSS with strengths in financial planning, analysis, business process re-engineering, budgeting, financial reporting systems, project evaluation, mergers and acquisitions, and treasury and capital management.

Prior to his role as interim-CFO, Mr. Macko served as Vice President of Finance for DSS. As the VP of Finance, Mr. Macko’s responsibilities included assisting in all aspects of financial and regulatory reporting. In addition, his responsibilities also included the day-to-day management of the company’s Accounting and Finance team and the financial leadership in the directing and improving of the accounting, reporting, audit, and tax activities. Prior to his role as Vice President of Finance for the Company, Mr. Macko joined the wholly owned subsidiary of DSS, Premier Packaging Corporation, in January 2019, as its Vice President of Finance.

Prior to joining the Company, Mr. Macko served as the Corporate Controller for Baldwin Richardson Foods, a leading custom ingredients manufacturer for the food and beverage industry from November 2015 until January 2019. Prior to that, Mr. Macko served as the Controller for The Outdoor Group, Genesis Vision, Complemar Partners, and Level 3 Communications. Mr. Macko obtained his Bachelor of Science in Accounting from Rochester Institute of Technology.

“Todd has proven highly effective as our interim-CFO, and I am confident he will continue to provide significant value as Chief Financial Officer,” stated Frank D. Heuszel, CEO of DSS. “His diverse strengths in financial analysis, budgeting, business strategy, and mergers and acquisitions, combined with now years of experience here at DSS, enable Todd to provide tremendous support to our growing organization as we continue to execute on our long-term vision and strategy.”

“Todd has been a great asset and key contributor across multiple strategic initiatives since joining DSS,” added Jason Grady, COO of DSS. “His leadership experience, financial acumen, and strong understanding of our diverse operations make Todd the ideal candidate for this important position. I have been impressed with Todd since first meeting him several years ago, and I am pleased to welcome him to his new role."

About Document Security Systems, Inc.

DSS is a multinational company operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of $25 billion.

For more information on DSS visit http://www.dsssecure.com.

Investor Contact:

Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com

Safe Harbor Disclosure

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions 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. Such forward-looking statements include, but are not limited to, statements related to the Company's intended use of proceeds and other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. These risks and uncertainties, many of which are beyond our control, include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of development activities; our ability to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property matters; competition; as well as other risks described in the section entitled "Risk Factors" in the prospectus and in our other filings with the SEC, including, without limitation, our reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC website at www.sec.gov. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management's current estimates, projections, expectations and beliefs. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

FAQ

Who is the new CFO of Document Security Systems, Inc. (DSS)?

Todd D. Macko has been promoted to Chief Financial Officer of DSS effective August 16, 2021.

What qualifications does Todd D. Macko have as CFO of DSS?

Macko has over 25 years of experience in public and corporate accounting and is a Certified Public Accountant.

What is DSS's focus in terms of business segments?

DSS operates in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets.

What role did Macko hold before becoming CFO of DSS?

Before his promotion, Macko was the Vice President of Finance at Document Security Systems.

How does DSS plan to enhance shareholder value?

DSS aims to increase shareholder value through strategic spin-offs of its subsidiaries into IPOs.