Sharps Compliance Announces Change to Board of Directors

Rhea-AI Summary

Sharps Compliance Corp. (NASDAQ: SMED) announced the resignation of Jack Holmes from its Board of Directors effective May 21, 2021, to focus on other business commitments. Holmes had previously declined to stand for re-election at the Company's Annual Meeting in November 2021. The decision wasn't a result of disagreements with the Company's operations or policies. Sharon R. Gabrielson, Chair of the Board, expressed gratitude for Holmes' contributions.

Sharps Compliance specializes in waste management solutions for medical, pharmaceutical, and hazardous waste.

Positive

• Leadership change may bring fresh perspectives to the Board.
• Holmes's resignation allows for new appointments that could enhance Board effectiveness.

Negative

• Concerns may arise regarding continuity in leadership following Holmes's departure.
• Potential experience gaps in the Board could impact strategic decision-making.

HOUSTON, May 24, 2021 (GLOBE NEWSWIRE) -- Sharps Compliance Corp. (NASDAQ: SMED) (“Sharps Compliance” or the “Company”), a leading full-service national provider of comprehensive waste management solutions including medical, pharmaceutical and hazardous, today announced that Jack Holmes has resigned from the Company’s Board of Directors, effective May 21, 2021, to focus on other business commitments. In an 8-K filing on May 5, 2021, Sharps Compliance announced that Mr. Holmes had notified the board that he had decided to decline to stand for re-election at the Company’s 2021 Annual Meeting in November 2021. His decision is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

Sharon R. Gabrielson, Chair of Sharps Compliance Board of Directors commented, “We thank Jack for his valuable contributions and service during his tenure on the Board and we wish him success as he focuses on his other business commitments.”

About Sharps Compliance Corp.

Headquartered in Houston, Texas, Sharps Compliance (NASDAQ: SMED) is a leading business-to-business services provider to the healthcare, long-term care and retail pharmacy markets. Sharps Compliance offers comprehensive solutions for the management of regulated medical waste, hazardous waste and unused medications. For more information, visit: www.sharpsinc.com.

Safe Harbor Statement

The information made available in this news release contains certain forward-looking statements relating to the Company that are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company’s management. When used in this document, the words "may," “position,” "plan," “potential,” “continue,” "anticipate," "believe," "expect," "estimate," “project,” and “intend” and words or phrases of similar import, as they relate to the Company or its subsidiaries or Company management, are intended to identify forward-looking statements. Such statements reflect the known and unknown risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, customer relations, relationships with vendors, governmental regulation and supervision, seasonality, distribution networks, product introductions and acceptance, technological change, changes in industry practices, onetime events and other factors described herein including the impact of the coronavirus COVID-19 (“COVID-19”) pandemic on our operations and financial results. Based upon changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Company’s Quarterly Report on Form 10-Q or refer to our Annual Report on Form 10-K. Actual results may vary materially. You are cautioned not to place undue reliance on any forward-looking statements. You should also understand that it is not possible to predict or identify all such factors and as such should not consider the preceding list or the risk factors to be a complete list of all potential risks and uncertainties. The Company does not intend to update these forward-looking statements.

For more information contact:

Diana P. Diaz Sharps Compliance Corp. Executive Vice President and Chief Financial Officer Phone: (713) 660-3547 Email: ddiaz@sharpsinc.com

John Nesbett/Jennifer Belodeau IMS Investor Relations Phone: (203) 972-9200 Email: jnesbett@institutionalms.com

FAQ

Why did Jack Holmes resign from Sharps Compliance's Board of Directors?

Jack Holmes resigned to focus on other business commitments, not due to any disagreements with the Company.

When did Jack Holmes's resignation from Sharps Compliance take effect?

Jack Holmes's resignation took effect on May 21, 2021.

What impact might Jack Holmes's resignation have on Sharps Compliance?

His resignation could lead to continuity concerns and gaps in experience on the Board, potentially affecting strategic decisions.

Who commented on Jack Holmes's resignation from the Board?

Sharon R. Gabrielson, Chair of Sharps Compliance's Board of Directors, thanked Holmes for his service.

What is the business focus of Sharps Compliance?

Sharps Compliance provides waste management solutions for medical, pharmaceutical, and hazardous waste.