Minim Welcomes Industry Veteran Paul Walsh as Advisor to the Board of Directors and Management

Rhea-AI Summary

Minim, Inc. (NASDAQ: MINM) has appointed Paul Walsh as an advisor to its Board of Directors, effective immediately. Walsh, a seasoned financial leader, previously served as CFO at Allegro Microsystems Inc., where he led a successful IPO. His extensive experience in finance and operations within technology sectors positions him to assist Minim in navigating its growth trajectory, which includes a recent uplisting to the Nasdaq and significant revenue growth. CEO Gray Chynoweth expressed enthusiasm for Walsh's addition to the team.

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• Paul Walsh's extensive experience in financial leadership and public company management.
• His previous success in leading Allegro's IPO, indicating capability in capital transformation.
• Expected contributions to Minim's growth trajectory and corporate governance enhancements.

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• None.

MANCHESTER, NH, June 06, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Minim, Inc. (NASDAQ: MINM), the creator of intelligent WiFi software and Motorola home networking products under an exclusive global brand license, today announces the appointment of Paul Walsh as an advisor to the Company's Board of Directors and Management, effective immediately. Paul V. Walsh, Jr. is a senior financial leader and board advisor with strategic and operational expertise in finance and administration at publicly traded and private equity-backed companies in rapidly-evolving technology industries. 

Mr. Walsh recently retired as Chief Financial Officer (CFO) at Allegro Microsystems Inc., a global provider of magnetic sensor and power management Integrated Circuits (ICs) for the automotive and industrial markets. He led Allegro’s IPO in October 2020— at the time, the largest semiconductor IPO since 2011. Mr. Walsh also co-led the private equity investment transaction from One Equity Partners in October 2017. From 2004 to 2013, Mr. Walsh held increasingly senior roles at Silicon Laboratories Inc., a mixed-signal semiconductor company, until his appointment as Chief Financial Officer from 2011 to 2013. Earlier career positions included finance and operations roles at Perkin Elmer Inc., Teradyne Inc. and Analog Devices Inc. He began his career as a mechanical engineer at R.G. Vanderweil Engineers. Mr. Walsh earned a Graduate Certificate in Accountancy from the Bentley College Graduate School of Management in Waltham, MA, passing the CPA exam in 1997. He received a Master of Business Administration from Boston University in 1992 and a Bachelor of Science in Mechanical Engineering in 1986 from the University of Maine at Orono, ME.  

“In the past 18 months, Minim has been on an exciting trajectory— combining two innovative software and hardware companies, uplisting to the Nasdaq, and outpacing market leaders in revenue growth,” said Mr. Walsh. “With deep industry knowledge and experience growing publicly-traded companies through strong financial and operational management, I am looking forward to helping the Company to achieve its goals.” 

Minim CEO Gray Chynoweth commented, “We are thrilled to welcome Paul as an advisor to our Board of Directors. He has a recognized track record of scaling companies for growth, deep expertise in capital transformation and is an experienced management lead to public company audit, nominating, and corporate governance committees. We will benefit greatly from Paul’s extensive knowledge and experience.” 

For more information about Minim Investor Relations, visit ir.minim.com.

About Minim 

Minim, Inc., (NASDAQ: MINM) was born in 1977 as a networking company and now delivers intelligent software to protect and improve the WiFi connections we depend on to work, learn, and live. Minim’s cloud platform powers intuitive apps and a variety of routers, helping customers take control of their connected experience and privacy. Headquartered in Manchester, N.H., Minim holds the exclusive global license to design and manufacture consumer networking products under the Motorola brand. To learn more, visit www.minim.com.

MOTOROLA and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license. 

Media Contact: 
Scott Harvin at (843)693-0298 or scotth@minim.com

Investor Relations Contact:
James Carbonara, Hayden IR at (646) 755-7412 or james@haydenir.com 

About Motorola Strategic Brand Partnerships 

For over 90 years the Motorola brand has been known around the world for high quality, innovative and trusted products. Motorola’s Strategic Brand Partnership program seeks to leverage the power of this iconic brand by teaming with dynamic companies who offer unique, high-quality products that enrich consumers’ lives. Strategic brand partners work closely with Motorola engineers while developing and manufacturing their products, ensuring that their products meet the exacting safety, quality, and reliability standards that consumers have come to expect from Motorola. To learn more about Motorola strategic brand partnerships, follow us @ShopMotorola.

Forward-Looking Statements

This press release contains “forward-looking statements”, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.  Such forward-looking statements relate to Minim’s plans, expectations, and intentions. Actual results may be materially different from expectations as a result of known and unknown risks, including: risks associated with Minim’s potential inability to realize intended benefits of the acquisition by merger of Zoom Connectivity, Inc.; the potential increase in tariffs on the company's imports; potential supply interruptions from manufacturing the company’s products in Vietnam; risks relating to global semiconductor shortages; potential changes in NAFTA; the potential need for additional funding which Minim may be unable to obtain; declining demand for certain of Minim’s products; delays, unanticipated costs, interruptions or other uncertainties associated with Minim’s production and shipping; Minim’s reliance on several key outsourcing partners; uncertainty of key customers’ plans and orders; risks relating to product certifications; Minim’s dependence on key employees; uncertainty of new product development, including certification and overall project delays, budget overruns; the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; costs and senior management distractions due to patent related matters; risks from a material weakness in our internal control over financial reporting; the impact of the COVID-19 pandemic; and other risks set forth in Minim’s filings with the Securities and Exchange Commission. Minim cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Minim expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Minim’s expectations or any change in events, conditions or circumstance on which any such statement is based.

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• Minim, Inc.

FAQ

What is the significance of Paul Walsh's appointment to Minim's Board?

Paul Walsh's appointment is significant due to his vast experience in financial leadership and public company management, which may aid Minim in its growth strategies.

How might Paul Walsh impact Minim's financial strategy?

With his background in managing successful IPOs and strategic financial oversight, Walsh is expected to enhance Minim's financial strategies and operational management.

When was Paul Walsh appointed as an advisor to Minim's Board?

Paul Walsh was appointed as an advisor to Minim's Board of Directors effective immediately on June 6, 2022.

What are Minim's recent achievements prior to Walsh's appointment?

Prior to Walsh's appointment, Minim had uplisted to the Nasdaq and outpaced market leaders in revenue growth over the past 18 months.