GWG Holdings, Inc. Announces Resignations of Murray T. Holland as President and Chief Executive Officer and Timothy L. Evans as Chief Financial Officer and Treasurer

Rhea-AI Summary

GWG Holdings, Inc. (Nasdaq: GWGH) has announced the immediate resignation of President and CEO Murray T. Holland and CFO Timothy L. Evans. Both executives will remain on the company's board of directors. The company plans to release further details in the coming days. This leadership change raises questions about management continuity and future strategic directions.

Positive

• Potential for fresh leadership perspectives with new executive appointments.

Negative

• Concerns regarding continuity and experience gaps in key executive roles.

DALLAS, Nov. 14, 2022 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq: GWGH) (the “Company”), a financial services firm based in Dallas, Texas, today announced that the Company’s President and Chief Executive Officer, Murray T. Holland, and the Company’s Chief Financial Officer and Treasurer, Timothy L. Evans, have both resigned as executive officers of the Company, effective immediately. Mr. Holland and Mr. Evans have not resigned from their positions as members of the board of directors of the Company. The Company expects to provide additional information in the coming days.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these words or other similar terms or expressions that concern the Company’s expectations, strategy, priorities, plans, or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s future financial performance and management. The Company’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties, including changes in our plans or assumptions, that could cause actual results to differ materially from those projected. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and the Company disclaims any obligation to update any forward-looking statements, except as required by law.

Media Contact:
Dan Callahan
Director of Communication
GWG Holdings, Inc.
(612) 787-5744
dcallahan@gwgh.com

FAQ

What recent leadership changes occurred at GWG Holdings?

Murray T. Holland resigned as President and CEO, and Timothy L. Evans resigned as CFO, effective immediately.

Will the resignations of GWGH's executives affect the company's operations?

While the resignations may impact management continuity, both executives remain on the board, which may provide some stability.

When will GWG Holdings provide more information about their leadership changes?

The company expects to provide additional information in the coming days.

Who are the current executive officers of GWG Holdings?

As of now, the company has not announced new executive appointments following the resignations.