Mace Announces Director Resignation
Mace Security International, Inc. (OTCQX:MACE) announced the resignation of Mr. Richard Barone from its Board of Directors, effective April 14, 2023. Mr. Barone, who returned in 2022 to guide the Strategic Alternatives project, stated that the demands of this project, combined with his other commitments, necessitated his resignation. Despite his departure, he will continue to offer advisory support on ongoing projects for the next six months. Sanjay Singh, Chairman and CEO of Mace, expressed gratitude for Mr. Barone's contributions during a challenging economic period.
Mace has a longstanding reputation as a leader in personal safety and security, offering various products for consumer and law enforcement markets through its well-known brands.
- Mr. Barone will remain available in an advisory role for the next six months.
- The Strategic Alternatives project has seen significant progress.
- The resignation may raise concerns over continuity in leadership during the Strategic Alternatives project.
- Mr. Barone's departure could reflect potential challenges in completing the project amidst current market conditions.
CLEVELAND, OH / ACCESSWIRE / April 18, 2023 / Mace Security International, Inc. (OTCQX:MACE) today announced that Mr. Richard Barone decided to resign from its Board of Directors, effective April 14, 2023.
Mr. Barone, 81, returned to Mace's Board in 2022 to lead the charge on our Strategic Alternatives project. The Strategic Alternatives Project has been quite time consuming and while significant progress has been made developing these alternatives, the current economic and market environment has meant that bringing this project to conclusion will require a commitment of time which is incompatible with Mr. Barone's other commitments and work schedule at this time. Mr. Barone has offered to continue to advise the Board on any open projects for the next six months in an advisory capacity. The Board has accepted his offer.
On behalf of our Board and Mace's management team, we thank Mr. Barone for his service and commitment to helping the Company navigate a restructuring during the last twelve months during a challenging economic environment," stated Sanjay Singh, Chairman and Chief Executive Officer of Mace.
About Mace Security International, Inc.
Mace® Security International, Inc. (MACE) is a globally recognized leader in personal safety and security. Based in Cleveland, Ohio, the company has spent more than 40 years designing and manufacturing consumer and tactical products for personal defense and security under its world-renowned Mace® Brand - the original trusted brand of defense spray products. The Company also offers aerosol defense sprays and tactical products for law enforcement and security professionals worldwide through its Mace® Take Down® brand, KUROS!® Brand personal safety products, Vigilant® Brand alarms, and Tornado® Brand pepper spray and stun guns. MACE® distributes and supports Mace® Brand products through mass market retailers, wholesale distributors, independent dealers, Amazon.com, Mace.com, and other channels. For more information, visit www.mace.com.
Contact:
Investor Relations
InvestorRelations@mace.com
SOURCE: MACE SECURITY INTERNATIONAL INC
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