ORLANDO, Fla. and HAUPPAUGE, N.Y., Nov.
3, 2016 /PRNewswire/ -- VOXX International Corporation
(NASDAQ: VOXX), a leading manufacturer and distributor of
automotive, consumer accessories and premium audio products, today
announced the addition of John Adamovich,
Jr. as an independent Director of the Company, effective
immediately.
Mr. Adamovich was appointed by the Company's independent members
of the Board of Directors after an extensive search to fill the
vacancy on the Board following the 2016 Annual Meeting of
Stockholders. He brings to VOXX over 40-years of financial
and management experience, and a wealth of expertise in corporate
finance, corporate governance, mergers and acquisitions, and SEC
and risk management compliance.
In his most recent position, Mr. Adamovich served as Chief
Financial Officer of Aeroflex Holding Corp., a NYSE-listed
aerospace and test & measurement company focused on wireless
communications. He served as Chief Financial Officer for
almost a decade, and was responsible for all financial functions,
including corporate reporting, financial planning, accounting, tax,
treasury, insurance, internal audit, IT, and risk management.
While with Aeroflex, he was instrumental in the Company's efforts
to go public in 2010 and all corporate financings thereafter.
He was also intricately involved in M&A activities, having
overseen both acquisitions and divestitures, and ultimately, the
sale of Aeroflex to Cobham PLC.
Prior to Aeroflex, Mr. Adamovich served as Executive Vice
President and Chief Financial Officer of Rainbow Media Enterprises,
a subsidiary of Cablevision Systems Corporation, where he oversaw
finance functions for the Company's direct broadcast satellite
business, three national cable television networks and a regional
movie chain. Previously, he served as Group Vice President
and Chief Financial Officer and Treasurer of NYSE listed Pall
Corporation, a leading manufacturer of filtration, separation and
purification solutions. In this role, he was
responsible for the global finance department and related
initiatives, including corporate reporting, financial planning,
accounting, tax, treasury, insurance, internal audit and investor
relations. He was intricately involved in business planning
and reorganization initiatives. Earlier in his career, Mr.
Adamovich held a number of roles over a more than 20-year period
with KPMG, ultimately as an SEC Reviewing Partner and Professional
Practice Partner.
"We are excited to welcome John to our Board and look forward to
working with him closely as we enter such an important time in our
Company's evolution. He brings over 40 years of combined
experience, across a diverse range of industries and with extensive
experience in financial areas that relate to our current and future
business needs. He will add a valuable perspective to our
Board and on behalf of all of us, I would like to officially
welcome him," said John Shalam,
Chairman of the Board.
Mr. Adamovich's appointment expands the Company's Board of
Directors to eight. He is an independent Director as defined
by the Securities and Exchange Commission, and will serve on VOXX
International's Audit, Compensation and Special Transactions
committees.
Mr. Adamovich has also served on the Board of Delta Financial
Corporation. He is a member of the American Institute of
CPA's (AICPA) and the New York
State Society of CPA's (NYSSCPA). He graduated from
St John's University in 1975 with a
Bachelor's degree in Accounting and in 1988 received an honorary
Doctorate in Commercial Science.
About VOXX International Corporation
VOXX
International Corporation (NASDAQ:VOXX) formerly Audiovox
Corporation has grown into a worldwide leader in many automotive
and consumer electronics and accessories categories, as well as
premium high-end audio. Today, VOXX International is a global
company with an extensive distribution network that includes power
retailers, mass merchandisers, 12-volt specialists and most of the
world's leading automotive manufacturers. The Company continues to
drive innovation throughout all of its subsidiaries, and maintains
its commitment to exceeding the needs of the consumers it
serves.
Safe Harbor Statement
Except for historical
information contained herein, statements made in this release that
would constitute forward-looking statements may involve certain
risks and uncertainties. All forward-looking statements made in
this release are based on currently available information and the
Company assumes no responsibility to update any such
forward-looking statements. The following factors, among others,
may cause actual results to differ materially from the results
suggested in the forward-looking statements. The factors include,
but are not limited to risks that may result from changes in the
Company's business operations; our ability to keep pace with
technological advances; significant competition in the automotive,
premium audio and consumer accessories businesses; our
relationships with key suppliers and customers; quality and
consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price
and product competition; new product introductions; foreign
currency fluctuations and concerns regarding the European debt
crisis; restrictive debt covenants; the possibility that the review
of our prior filings by the SEC may result in changes to our
financial statements; and the possibility that stockholders or
regulatory authorities may initiate proceedings against VOXX
International Corporation and/or our officers and directors as a
result of any restatements. Risk factors associated with our
business, including some of the facts set forth herein, are
detailed in the Company's Form 10-K for the fiscal year ended
February 28, 2016.
Company Contact:
Glenn Wiener, President
GW Communications
Tel: 212-786-6011
Email: gwiener@GWCco.com
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SOURCE VOXX International Corporation