INSIGNIA SYSTEMS Announces Newly Appointed Chief Growth Officer and Restructuring
MINNEAPOLIS, MN – December 5, 2019 – Insignia Systems, Inc. (Nasdaq: ISIG) (“Insignia”) today reported a streamlined leadership team to better focus on driving sustainable long-term growth as well as a restructure of its sales and marketing personnel. Effective as of December 2, 2019, Adam May, Senior Vice President of Sales, began serving as Chief Growth Officer, reflecting a consolidation of our sales and marketing leadership roles. Additionally, Alison Nelson, previously Vice President of Sales, began serving as Senior Vice President of Sales, which holds primary responsibility for managing relationships with consumer-packaged goods manufacturers.
Kristine Glancy commented, “In light of our financial results through the first three quarters of 2019 and continued competitive pressures, we identified certain opportunities to adapt and re-focus. We intend to remain relentless in implementing our long-term growth strategy. Adam has been successful in developing and growing our sales organization with top-talent, developing strategic road-maps for each of our business solutions and will be focused on implementing our go-to-market strategy.”
She continued, “Although the organizational changes are expected to have a net positive impact, I do want to recognize that several positions were eliminated. I want to thank those impacted for their time and service to the organization. Our team continues to be a significant asset and driver of our transformation. I am confident we are equipped to drive simplification and growth in our future.”
About Insignia Systems Insignia Systems, Inc. sells product solutions ranging from in-store to digital advertising. Consumer-packaged goods (CPG) manufacturers and retailers across the country rely on our deep expertise in the dynamic retail environment to provide a full suite of shopper engagement solutions. For additional information, visit www.insigniasystems.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release that are not statements of historical or current facts are considered forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Readers are cautioned not to place undue reliance on these or any forward-looking statements, which speak only as of the date of this press release. Statements made in this press release regarding, for instance, the timing and results of our business strategies and the impact of the identified actions are forward-looking statements. These forward-looking statements are based on current information, which we have assessed and which by its nature is dynamic and subject to rapid and even abrupt changes. As such, actual results may differ materially from the results or performance expressed or implied by such forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including those set forth in our Annual Report on Form 10-K for the year
ended December 31, 2018 and additional risks, if any, identified in our Quarterly Reports on Form 10-Q and our Current Reports on Forms 8-K filed with the SEC. Such forward-looking statements should be read in conjunction with the Company’s filings with the SEC. Insignia assumes no responsibility to update the forward-looking statements contained in this press release or the reasons why actual results would differ from those anticipated in any such forward-looking statement, other than as required by law.