Troika Media Group Announces Appointment of Erica Naidrich as Chief Financial Officer

Rhea-AI Summary

Troika Media Group (Nasdaq: TRKA) has appointed Erica Naidrich as its new Chief Financial Officer (CFO), effective immediately. Naidrich brings over 20 years of financial leadership, having previously served as VP of Accounting for Madison Square Garden Entertainment Corp. She will oversee global finance and enterprise functions, reporting to CEO Sid Toama. Her appointment aims to enhance Troika's financial reporting and planning capabilities, particularly following the acquisition of Converge Direct. Christopher Broderick remains COO.

Positive

• Erica Naidrich appointed as CFO, bringing over 20 years of financial leadership experience.
• Naidrich's expertise aligns with Troika's core sectors, enhancing financial oversight.
• Focus on robust financial reporting and enterprise planning post-Converge Direct acquisition.

Negative

• Concerns about leadership continuity with the change in CFO.

Los Angeles, CA, May 25, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Troika Media Group, Inc. (Nasdaq: TRKA) ("TMG" or "Company"), a transformational business solutions partner delivering brand building and activation, technology and innovation, and performance marketing growth for global businesses, today announced that Erica Naidrich has been appointedChief Financial Officer (CFO), effective immediately.

Ms. Naidrich brings financial and business experience to Troika, within public companies in corporate finance, operational management systems and financial reporting. Ms. Naidrich joins the Troika Executive Team to oversee the Company’s global finance and enterprise functions and will be reporting to Sid Toama, Chief Executive Officer and President of Troika. Christopher Broderick, previously CFO and Chief Operating Officer (COO), will remain as COO of Troika Media Group.

"Erica brings to Troika more than twenty years of financial leadership in key business sectors where she was responsible for leading teams supporting billion-dollar operations within a dynamic market environment," said Sid Toama.  “Erica’s appointment is the first key leadership role that will now enable us to build a robust financial reporting and enterprise planning function with a focus on business intelligence to facilitate the right decision making across the global enterprise.”

Prior to joining Troika Media Group, Ms. Naidrich served as Vice President of Accounting and Controller for Madison Square Garden Entertainment Corp (“MSG”), a leader in live sports, entertainment and programming. Prior to her role at MSG, Ms. Naidrich held Controller roles at technology and e-commerce companies, in addition to spending eight years in private equity. Ms. Naidrich started her career in Public Accounting for RSM and PricewaterhouseCoopers. Ms. Naidrich possesses valuable experience in Troika’s core sectors providing financial oversight of sports and entertainment, technology and media, private equity and professional services businesses. 

Ms. Naidrich is a Certified Public Accountant and obtained a Certificate in Accounting in June 2003 from the University of California, San Diego - La Jolla, California.  Ms. Naidrich received a Bachelor of Arts in Communications Studies from West Virginia University, Morgantown, West Virginia in August 1996.

“I am excited to be the first Executive appointment supporting Sid and the Management Team in this transformational period to ensure that Troika becomes an efficient and scalable integrated business partner. I am looking forward to playing a key role in the Company’s execution of its new strategic and operational plan since the acquisition of Converge Direct to accelerate growth and deliver value to shareholders,” said Ms. Naidrich. 

About Troika Media Group

TMG is a transformational business solutions partner based in New York, Los Angeles and London. We deliver resilient brand equity, amplifying brands through emerging technology and transcending them into culture to deliver performance driven business growth. Troika’s expertise is in Consumer Products and Services, Entertainment and Media, Sports and Sports Betting, Financial and Professional, Education and eSports and Gaming sectors. 

Our clients include Apple, Hulu, Riot Games, Belvedere Vodka, Unilever, UFC, Leaf Home, AT&T, Andersen Windows, Peloton, CNN, HBO, ESPN, Wynn Resorts and Casinos, Tiffany & Co., IMAX, Netflix, Sony, Yahoo and Coca-Cola. For more information, visit www.thetmgrp.com. 

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, the impact of the current COVID-19 pandemic, which may limit access to the Company's facilities, customers, management, support staff, and professional advisors, and to develop and deliver advanced voice and data communications systems, demand for the Company's products and services, economic conditions in the U.S. and worldwide, including the effects of the war in Ukraine, and the Company's ability to recruit and retain management, technical, and sales personnel. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact:

Troika Media Group
Investor Relations
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com

FAQ

What is the significance of Erica Naidrich's appointment as CFO for Troika Media Group (TRKA)?

Erica Naidrich's appointment as CFO is significant as she brings over 20 years of experience in financial leadership, which is expected to enhance Troika's financial reporting and planning capabilities, particularly after its recent acquisition of Converge Direct.

Who was appointed CFO of Troika Media Group on May 25, 2022?

Erica Naidrich was appointed as the new Chief Financial Officer of Troika Media Group on May 25, 2022.

What background does Erica Naidrich have prior to joining Troika Media Group?

Before joining Troika, Erica Naidrich served as Vice President of Accounting at Madison Square Garden Entertainment Corp and has held various Controller roles in technology and e-commerce companies.

How might Erica Naidrich's financial leadership impact shareholders of TRKA?

Erica Naidrich's financial leadership is expected to improve decision-making and operational efficiency, potentially leading to enhanced shareholder value.

What is Troika Media Group's focus following the appointment of the new CFO?

Following the appointment of the new CFO, Troika aims to build a robust financial reporting and enterprise planning function to support its strategic and operational plans.