Springbig announces appointment of Marc Shiffman to its Board of Directors

Rhea-AI Summary

Springbig Holdings, Inc. (OTCQX: SBIG), a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs, has announced the appointment of Marc Shiffman to its board of directors as the Lead Independent Director. Shiffman, a respected business leader, brings extensive experience from his roles as CFO, President, and CEO at SMS Assist until its sale in early 2023.

Simultaneously, Shawn Dym has resigned from the board of directors effective September 23, 2024. The board now comprises Sergey Sherman, Matt Sacks, Mark Silver, and Marc Shiffman, along with Jeffrey Harris as Chairman and CEO. The Audit Committee includes Sergey Sherman as Chair and Marc Shiffman.

Positive

• Appointment of experienced business leader Marc Shiffman as Lead Independent Director
• Shiffman's track record of driving growth and value creation in previous roles
• Restructured board composition potentially bringing fresh perspectives

Negative

• None.

BOCA RATON, Fla., Sept. 23, 2024 (GLOBE NEWSWIRE) -- SpringBig Holdings, Inc. (“Springbig” or the “Company”) (OTCQX: SBIG), a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs, today announced the appointment of Marc Shiffman to its board of directors as the Lead Independent Director. Mr. Shiffman is a respected business leader with extensive experience in his capacity as CFO, President and ultimately CEO of a leading property technology company SMS Assist until its sale in early 2023 to Lessen, Inc.

“We are excited to have Marc joining our board as lead independent director. We look forward to the Company benefitting from Marc’s experience and success in driving tremendous growth and value creation as we continue to focus on financially disciplined growth in the cannabis industry and other regulated markets that benefit from our compelling loyalty and communications offerings.” said Jeffrey Harris, CEO and Chairman of Springbig.

Marc Shiffman is the former president and chief executive officer at SMS Assist, where he also served on the board of directors. Before being named CEO in April 2019, Marc was president and chief financial officer. Marc successfully scaled and sold SMS Assist to Lessen, Inc. in January 2023 with the combination creating a $2 billion market leading end-to-end technology platform serving the property services management industry. Marc earned his bachelor’s degree in economics from the Wharton School of the University of Pennsylvania and his MBA from The University of Chicago Booth School of Business. Marc currently serves on the Chicago Innovation Board of Advisors.

The Company also announced that Shawn Dym has resigned from the board of directors with effect from September 23, 2024.

Jeffrey Harris said, “Shawn has added great value during his tenure as a director since joining the board following completion of our debt financing in January 2024. In recognizing the impact Marc Shiffman’s involvement can have on the future success of the business he graciously decided that it would be in the best interest of the Company to resign to enable Marc to join the board. We are grateful for Shawn’s commitment and continued support to best position Springbig for success.”

The board of directors now comprises Sergey Sherman, Matt Sacks, Mark Silver and Marc Shiffman along with Jeffrey Harris, Chairman and CEO. The Audit Committee comprises Sergey Sherman, Chair, and Marc Shiffman.

About Springbig

Springbig is a market-leading software platform providing customer loyalty and marketing automation solutions to retailers and brands in the U.S. and Canada. Springbig’s platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailers’ and brands’ customer engagement and retention. Springbig offers marketing automation solutions that provide for consistency of customer communication, thereby driving customer retention and retail foot traffic. Additionally, Springbig’s reporting, and analytics offerings deliver valuable insights that clients utilize to better understand their customer base, purchasing habits and trends. For more information, visit https://springbig.com/.

Investor Relations Contact        

Paul Sykes
Chief Financial Officer

Claire Bollettieri
VP of Investor Relations
ir@springbig.com

FAQ

Who is the new Lead Independent Director of Springbig (SBIG)?

Marc Shiffman has been appointed as the new Lead Independent Director of Springbig (SBIG).

What is Marc Shiffman's background before joining Springbig's board?

Marc Shiffman was previously the CEO, President, and CFO of SMS Assist, a property technology company, until its sale to Lessen, Inc. in early 2023.

Who resigned from Springbig's board of directors on September 23, 2024?

Shawn Dym resigned from Springbig's board of directors effective September 23, 2024.

How many members are now on Springbig's (SBIG) board of directors?

Springbig's board of directors now comprises five members: Sergey Sherman, Matt Sacks, Mark Silver, Marc Shiffman, and Jeffrey Harris as Chairman and CEO.