Wayside Technology Group Elects Gerri Gold to Board of Directors

Rhea-AI Summary

Wayside Technology Group (NASDAQ: WSTG) has elected Gerri Gold to its Board of Directors during the 2021 Annual Meeting of Stockholders. Gold brings nearly 30 years of executive experience in IT and financing, currently serving as COO at HPE Financial Services, which manages $13 billion in assets globally. Her strategic planning skills and industry knowledge, especially in the European market, are expected to enhance Wayside's growth and acquisition plans. Gold expressed excitement about contributing to the company as it emerges from the pandemic and continues to innovate.

Positive

• Gerri Gold's extensive experience in IT and financing could strengthen the Board's strategic direction.
• Her background in managing a significant asset base ($13 billion) may improve operational efficiency.
• Gold's expertise in the European market is valuable for expanding Wayside's reach.

Negative

• The transition period may create potential continuity concerns in the Board's strategic initiatives.

EATONTOWN, N.J., June 16, 2021 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ: WSTG), a value-added information technology (IT) channel company providing innovative sales and distribution solutions for emerging technology vendors, has nominated and elected Gerri Gold to its Board of Directors (the "Board") at the Company's 2021 Annual Meeting of Stockholders.

Gerri Gold has nearly three decades of executive experience in the IT and equipment financing business. She is currently the senior vice president and Chief Operating Officer of HPE Financial Services, the IT asset management and financing division of Hewlett Packard Enterprise (NYSE: HPE), with $13 billion in assets under management operating in over 50 countries worldwide. At HPE Financial Services, Gold is responsible for the transformation of the business with a focus on continuous innovation at a service, market, and operational level, while delivering profitable growth.

"Gerri brings a wealth of industry experience and know-how to our Board. Her knowledge of the European marketplace as well as her strategic planning acumen will be particularly valuable. We look forward to her input during our ongoing strategic evaluation and annul planning processes," said Jeff Geygan, Wayside's Chairman of the Board. "I believe Gerri fills an important role on our Board, offering a unique and diverse perspective as the company continues to execute its long-term growth and acquisition plan through our Climb Channel Solutions businesses."

During her career, Gold has held numerous critical leadership roles in HPEFS, Compaq Financial Services as well as AT&T, where she was one of the founding members of AT&T Capital Corp. Gold has led through a number of mergers and divestures at AT&T and with Compaq-HP.

Gold is a graduate of the University of Michigan and earned her MBA in Finance from New York University. In her spare time, Gold mentors young entrepreneurial talent. These successful collaborations include businesses in bio-tech, software, and the legal profession.

"The team at Wayside has built a dynamic organization that delivers easy access to superior IT solutions for resellers and businesses around the globe," said Gold. "I am delighted to have the opportunity to help the team at Wayside scale and grow these solutions. This is a particularly exciting period for all businesses as we collectively emerge from the pandemic lock-down and I'm very optimistic about the road ahead."

About Wayside Technology Group

Wayside Technology Group, Inc. (NASDAQ: WSTG) is a value-added IT channel and solutions company specializing in emerging technologies. Wayside operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Sigma Software Distribution, Grey Matter, Interwork and TechXtend. The Company provides IT distribution and solutions for emerging companies in the Security, Data Management, Cloud, Connectivity, Storage & HCI, Virtualization, and Software & ALM industries.

Additional information can be found by visiting www.waysidetechnology.com. 

Forward Looking Statements

This press release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.

All statements, other than statements of historical fact, included in this Press Release may constitute forward-looking statements. These forward-looking statements may be accompanied by such words as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "project," "target," "should," "likely," "will" and other words and terms of similar meaning. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. These risk and uncertainties include, without limitation, the continued acceptance of the Company's distribution channel by vendors and customers, the timely availability and acceptance of new products, product mix, market conditions, contribution of key vendor relationships and support programs, as well as factors that affect the software industry in general and other factors (such as the coronavirus outbreak). The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in our filings with the SEC.

Readers are cautioned not to place undue reliance on any forward-looking statements contained in this Press Release, which speak only as of the date of this release. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.

Important Additional Information

The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company's shareholders in connection with the Company's 2021 annual meeting of shareholders. The Company intends to file a definitive proxy statement and a WHITE proxy card with the SEC in connection with any such solicitation of proxies from the Company's shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING WHITE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. The Company's soliciting material filed with the SEC on January 15, 2021 as DEFA 14A (the "DEFA 14A") contains information regarding the direct and indirect interests, by security holdings or otherwise, of the Company's directors and executive officers in the Company's securities. If the holdings of the Company's securities change from the amounts provided in the DEFA 14A, such changes will be set forth in SEC filings on Forms 3, 4, and 5, which can be found through the Company's website at www.waysidetechnology.com or through the SEC’s website at www.sec.gov. Information can also be found in the Company's other SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2020. Updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Company's definitive proxy statement and other materials to be filed with the SEC in connection with the 2021 annual meeting of shareholders. Shareholders will be able to obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC at no charge at the SEC’s website at www.sec.gov. Copies will also be available at no charge at the Company's website at www.waysidetechnology.com.

Company Contact:
Drew Clark
Chief Financial Officer
1-732-389-0932
Drew@WaysideTechnology.Com 

Investor Relations Contact
Cody Cree or Jackie Keshner
Gateway Investor Relations
1-949-574-3860
WSTG@gatewayir.com 

FAQ

Who is Gerri Gold and what role has she been appointed to at WSTG?

Gerri Gold has been elected to the Board of Directors of Wayside Technology Group and has extensive experience in the IT and equipment financing sectors.

What prior experience does Gerri Gold bring to Wayside Technology Group?

Gerri Gold has nearly 30 years of executive experience, including her role as COO at HPE Financial Services.

How might Gerri Gold's appointment impact WSTG?

Her industry expertise and strategic planning skills could enhance Wayside's growth and acquisition strategies.

What did Jeff Geygan say about Gerri Gold's election to the Board?

Jeff Geygan stated that Gerri Gold brings a wealth of industry experience and will provide valuable input in the company's strategic processes.