Versus Systems Announces Strategic Restructuring, New Interim CEO, and Key Investor Engagement

Rhea-AI Summary

Versus Systems announced a strategic restructuring with Curtis Wolfe appointed as the new Interim CEO. Wolfe brings extensive experience in technology, including online media, ad technologies, and video games. The company plans a thorough review of its technologies and market position to enhance gaming experiences and explore strategic partnerships. This restructuring follows the resignation of the former CEO, CFO, Chairman, and independent directors. The company aims to drive growth and innovation with support from new investors.

Positive

• Appointment of Curtis Wolfe as Interim CEO with extensive experience in technology sectors.
• Plans for a thorough review of technologies, products, client platforms, and the market to enhance offerings.
• Exploration of strategic partnerships to create mutually beneficial growth opportunities.
• Support from new investors indicating confidence in the company's future.

Negative

• Resignation of key management figures including CEO, CFO, Chairman, and independent directors, which may indicate internal challenges or instability.

VANCOUVER, British Columbia, July 01, 2024 (GLOBE NEWSWIRE) -- Versus Systems, Inc. (NASDAQ: VS), a pioneering technology company in interactive entertainment, is pleased to announce the appointment of a new Interim Chief Executive Officer. 

Effective immediately, Curtis Wolfe has been appointed as the new Interim Chief Executive Officer of Versus Systems. Curtis Wolfe brings with him years of experience in technology companies, including online media, ad technologies, and video games. In addition, Curtis is an experienced attorney licensed in Florida and Delaware who teaches Transactional Skills (Mergers and Acquisitions) at the University of Miami School of Law. His leadership is expected to drive the company forward in its next phase of growth and innovation.

“I'm thrilled to join Versus Systems at this transformative stage," said Curtis Wolfe, Interim CEO of Versus Systems. “We will conduct a thorough review of the Company’s technologies, product line-up, client platforms, and the market to position the Company to deliver secure and immersive gaming experiences that exceed the expectations of our global customer base. In addition, we will be evaluating strategic partnerships with companies whose technologies complement ours and create opportunities for mutually beneficial growth. The support from our new investors marks an exciting chapter for our Company."

Prior to Mr. Wolfe’s appointment as Interim CEO, the Board of Directors accepted the resignations of Matthew Pierce, the Company’s CEO and Director, Craig Finster, the Company’s CFO, and Keyvan Penman, the Company’s Chairman, and independent directors Michelle Gahagan and Shannon Pruitt.

“The Company thanks the outgoing management team, including those officers and directors who have brought the Company to where it is today,” said Juan Carlos Barrera, the acting Chairman of the Company. "We hope to build on their accomplishments as we usher in a new era for the Company, its customers, and shareholders."

Versus Systems remains dedicated to innovation, security, and delivering unparalleled value to its stakeholders. The Company looks forward to the opportunities that lie ahead as it continues to redefine the landscape of interactive entertainment.

For media inquiries, please contact:
Cody Slach
Gateway Group, Inc.
949-574-3860
IR@versussystems.com
or
press@versussystems.com

About Versus Systems

Versus Systems, Inc. has developed a proprietary in-game prizing and promotions engine that allows game developers and publishers to offer real-world rewards inside their games. Players can choose from a variety of rewards that match their interests, including merchandise, events, and digital goods. Versus Systems is headquartered in Los Angeles, California.

For more information, please visit www.versussystems.com.

FAQ

Who is the new Interim CEO of Versus Systems?

Curtis Wolfe has been appointed as the new Interim CEO of Versus Systems.

What experience does Curtis Wolfe bring to Versus Systems?

Curtis Wolfe has experience in technology companies, online media, ad technologies, video games, and is an attorney who teaches Mergers and Acquisitions at the University of Miami School of Law.

What are the plans for Versus Systems under the new Interim CEO?

Versus Systems plans a thorough review of its technologies, product lineup, and market positioning, and will explore strategic partnerships.

What changes occurred in the management of Versus Systems?

The former CEO, CFO, Chairman, and independent directors of Versus Systems have resigned.

What is Versus Systems' stock symbol?

The stock symbol for Versus Systems is VS.

What is the strategic focus of Versus Systems' new leadership?

The new leadership at Versus Systems aims to enhance gaming experiences and pursue strategic partnerships for growth.

When was Curtis Wolfe appointed as Interim CEO of Versus Systems?

Curtis Wolfe was appointed as Interim CEO of Versus Systems effective immediately as of July 01, 2024.