NAPCO Security Technologies Announces David Paterson former Governor of New York has joined its Board of Directors
NAPCO Security Technologies (NASDAQ: NSSC) has appointed David Paterson, former Governor of New York, to its Board of Directors as of February 3, 2023. Paterson brings extensive experience in crime and security issues, which he believes will help the company navigate challenges in an evolving security landscape. CEO Richard Soloway expressed confidence that Paterson’s background will contribute to NAPCO's ongoing success. NAPCO is a prominent manufacturer of high-tech electronic security devices and solutions, catering to various sectors, including commercial and government applications.
- David Paterson's extensive experience in crime and security is expected to enhance strategic insights.
- His appointment may improve NAPCO's reputation and connections in the security sector.
- Potential concerns regarding the continuity of leadership as new members join the board.
- Experience gaps may arise from the new board dynamics.
AMITYVILLE, N.Y., Feb. 3, 2023 /PRNewswire/ -- NAPCO Security Technologies, Inc. (NASDAQ: NSSC), one of the leading designers and manufacturers of high-tech electronic security devices, wireless recurring communication services for intrusion, fire alarm, access control and locking systems as well as a leading provider of school safety solutions today announced that former Governor of New York David Paterson has joined its Board of Directors.
The Board of Directors has approved the addition of David Alexander Paterson, the Governor of New York State from March 2008 until January 2011. Born in Brooklyn, NY, he earned his Bachelor's degree in History from Columbia University in 1977 and completed his J.D. at Hofstra Law School in 1982. In 2002, he became the minority leader of the New York State Senate, the first non-white legislative leader in New York's history. He made history again in 2004 when he became the first blind person to address the Democratic National Convention.
David Paterson commented "I am excited to join the Board of Directors of NAPCO Security. NAPCO has a great thirty-plus year history and reputation for making quality products that serve the security industry. As crime rates have risen across the US, companies like NAPCO play an important role in helping keep people safe during these troubled times. As the former Governor of New York, I have vast experience in crime and security issues. In joining the Board of Directors, I will be able to offer unique perspectives to NAPCO as it plans for the future growth of the Company."
Richard Soloway CEO of NAPCO commented "We are very happy to have David join the NAPCO Board of Directors. David's experience as the former Governor of New York as well as being an outspoken advocate of safety by combatting crime traditionally and with new methods and systems, will be a great addition as we plan for NAPCO's continued success."
About NAPCO Security Technologies, Inc.
NAPCO Security Technologies, Inc., is one of the world's leading manufacturers and service providers of high-tech electronic security devices as well as a leading provider of school safety solutions. The Company consists of four Divisions: NAPCO, plus three wholly-owned subsidiaries: Alarm Lock, Continental Instruments, and Marks USA. Headquartered in Amityville, New York, its products are installed by tens of thousands of security professionals worldwide in commercial, industrial, institutional, residential and government applications. NAPCO products have earned a reputation for innovation, technical excellence and reliability, positioning the Company for growth in the multi-billion dollar and rapidly expanding electronic security market. For additional information on NAPCO, please visit the Company's web site at http://www.napcosecurity.com.
Safe Harbor Statement
This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management's judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, but are not limited to, statements relating to the impact of COVID-19 pandemic; the growth of recurring service revenue and annual run rate; the introduction of new access control and locking products; the opportunities for fire alarm products; and our ability to execute our business strategies. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those risk factors set forth in the Company's filings with the Securities and Exchange Commission, such as our annual report on Form 10-K and quarterly reports on Form 10-Q. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and the Company undertakes no duty to update such information, except as required under applicable law.
Contacts:
Patrick McKillop
Vice President of Investor Relations
NAPCO Security Technologies, Inc.
800-645-9445 x 374
Mobile: 516-404-3597
pmckillop@napcosecurity.com
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SOURCE NAPCO Security Technologies, Inc.
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