Sanjay Singh Named New Chairman and CEO at Mace(R) Security International, a Global Leader in Personal Self-Defense Sprays
Mace Security International, Inc. (OTCQX:MACE) announces Sanjay Singh as Chairman and CEO, succeeding Gary Medved, effective February 10, 2022. Singh, previously Executive Chairman since April 2020, aims to transform the business after a decline in financial results in 2021 compared to a robust 2020. Singh highlighted priorities such as overhauling revenue processes and solidifying the financial position. Mace's strong brand presence and credit line support future growth. The company plans to participate in investor conferences, with a calendar to be shared soon.
- Sanjay Singh's previous experience as Executive Chairman may provide continuity in leadership.
- Strengthening of operations and financial position is a priority for the new CEO.
- The company has significant brand presence and a growing customer base.
- Financial results for the first nine months of 2021 were lukewarm compared to 2020.
- The company has faced challenges in revenue generation, necessitating cost-cutting and price increases.
CLEVELAND, OH / ACCESSWIRE / February 11, 2022 / Mace Security International, Inc. (OTCQX:MACE) today announced Sanjay Singh as its new Chairman and CEO. Mr. Singh succeeds Gary Medved, the former President and CEO, who has resigned from the company effective February 10, 2022 as part of the board of directors' business and leadership planning process.
Singh, 56, has served as Executive Chairman of the company since April 2020. He joined the board as Vice-Chairman in 2018. "It is a privilege to take on this new role," Singh said.
"A lot of hard work is in front of us as the company plans to further transform the business and unlock the value of MACE. We had lukewarm financial results in the first nine months of 2021 when compared to a very robust 2020. Over the last few quarters, the company has lowered its four wall costs and increased prices to mitigate the impact of lower revenues. We have a resolute team of employees who I am honored to work with every day. My priorities this year are to overhaul our revenue generating processes, solidify our financial position and strengthen our operations and I support the board's decision to reorganize the leadership to streamline decision making. Mace has significant brand presence with a growing base of customers across all its channels backed by a strong line of credit to support the growth. I am excited to accelerate the board's strategy," Singh said.
The company intends on participating in various investor conferences as it did in prior years. A calendar of those events will be available on the company's web site in the coming weeks.
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.
Mace Security International distributes and supports its products and services through mass-market retailers, wholesale distributors, independent dealers, e-commerce channels and through its website, www.Mace.com. For more information, please visit www.mace.com.
SOURCE: MACE SECURITY INTERNATIONAL INC
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