B. Riley Names Kevin Olson SVP, Business Development of Retail Solutions

Rhea-AI Summary

B. Riley Financial (NASDAQ:RILY) has appointed Kevin Olson as Senior Vice President of Business Development for B. Riley Retail Solutions. Olson, who has been with the firm since 2016, previously oversaw operations in Australia, New Zealand, and the Oceania market. In his new role, he will expand the firm's relationships with retailers in North America. In 2020, B. Riley Retail Solutions managed over 2,000 store closures with an inventory value of around $2.8 billion.

Positive

• Appointment of Kevin Olson, a seasoned professional with over 25 years of retail experience, to enhance business development.
• Olson's expertise expected to strengthen relationships with North American retailers.
• Significant operational experience in the Australasia region, underpinning firm’s growth potential.

Negative

• None.

LOS ANGELES, Aug. 25, 2021 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ:RILY) ("B. Riley"), a diversified provider of business advisory and financial services, today announced it has named Kevin Olson as Senior Vice President of Business Development for B. Riley Retail Solutions.

Olson currently oversees operations for the firm's retail liquidation division in Australia, New Zealand, and the Oceania market. In this expanded role, he will also be responsible for building, maintaining, and expanding the firm's business relationships with retailers across North America.

Scott Carpenter, CEO of B. Riley Retail Solutions, commented: "Kevin is a seasoned professional who brings deep retail operational expertise and relationships to our North American division. We are pleased to announce his expanded role and look forward to his continued contributions supporting our business in Australia."

Olson joined the firm in 2016 and has been pivotal in helping to establish and build the firm's presence across the Australasia region. He has over 25 years of experience working with retailers in providing differentiated financial solutions to generate value. While Olson will be primarily based in Irvine, California, he will continue to maintain a regular presence in Australia while overseeing the firm's overseas operations.

In North America during 2020, B. Riley Retail Solutions participated in over 2,000 store closures with associated retail inventory value of approximately $2.8 billion.

For more information about B. Riley Retail Solutions, visit: www.brileyretailsolutions.com.

About B. Riley Retail Solutions
B. Riley Retail Solutions (formerly Great American Group) is a leading provider of asset disposition services specializing in large-scale retail liquidations in the U.S., Australia, and Europe. The firm efficiently leverages its sector expertise and deploys resources to assist companies, lenders, capital providers, private equity investors and professional services firms in maximizing the value of their assets. The firm is a subsidiary of B. Riley Financial.

B. Riley Financial provides collaborative solutions tailored to fit the capital raising and business advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction and liquidation services. For more information, please visit www.brileyfin.com.

Contacts
Business Inquiries:
Kevin Olson
B. Riley Retail Solutions
kolson@brileyfin.com
(949) 561-3755

Media:
Jo Anne McCusker
B. Riley Financial
press@brileyfin.com
(646) 885-5425

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SOURCE B. Riley Financial

FAQ

Who is the new Senior Vice President of Business Development at B. Riley?

Kevin Olson has been appointed as the new Senior Vice President of Business Development for B. Riley Retail Solutions.

What responsibilities will Kevin Olson have in his new role?

Olson will build, maintain, and expand business relationships with retailers across North America.

How many store closures did B. Riley Retail Solutions participate in during 2020?

B. Riley Retail Solutions participated in over 2,000 store closures in 2020.

What was the inventory value associated with the store closures managed by B. Riley in 2020?

The associated retail inventory value was approximately $2.8 billion.

What regions did Olson oversee before his new appointment?

Before his new appointment, Olson oversaw operations for the firm's retail liquidation division in Australia, New Zealand, and the Oceania market.