LOS
ANGELES, Sept. 13, 2023 /PRNewswire/ --
Cineverse Corp. ("Cineverse" or the "Company") (NASDAQ:
CNVS), a global streaming technology and entertainment company
with one of the world's largest portfolios of streaming channels
and content libraries, today announced the appointment of
Mark Lindsey as Chief Financial
Officer (CFO), effective September 14,
2023.
Mr. Lindsey has served as Executive Vice President, Accounting
and Finance, at Cineverse since November
2022 – overseeing accounting, financial reporting,
regulatory compliance and financial planning. The promotion marks a
streamlining of the EVP and CFO roles. Lindsey, an active CPA,
brings more than 20 years of experience across all aspects of
accounting, financial reporting, regulatory compliance, and
financial analysis in various industries. He previously served
as Chief Accounting Officer at Firefly, a mobility-based
advertising and data platform; Chief Financial Officer at Canapi
Ventures, a financial technology-focused venture capital firm; and
Chief Accounting Officer at American Capital, a publicly traded
private equity firm and global asset manager that managed over
$100 Billion in assets. His
media experience includes a stint at SiriusXM as Senior Director of
Financial Reporting, while his foundational roles on the public
accounting side included tenures at the PCAOB and
PricewaterhouseCoopers.
As CFO, Mr. Lindsey will lead Cineverse's global finance and
accounting teams, overseeing financial planning, accounting,
capital markets, strategy, and cost-streaming initiatives –
bringing his depth of experience in capital restructuring and
cost-streaming to help the Company realize financial goals in the
near and long-term.
Mr. Lindsey will succeed John
Canning who will be leaving the Company upon the completion
of his employment agreement term on September 13, 2023.
Chris McGurk, Chairman and CEO of
Cineverse, stated, "Given Mark's contributions to Cineverse's
financial operations, accounting and reporting, his promotion to
CFO is a natural and well-deserved next step. Having demonstrated
his ability to lead a results-oriented team and drive operational
efficiencies in recent critical months, Mark will play a key role
in strengthening our balance sheet and advancing our strategic
initiatives – focusing on bank relationships, short and long-term
financial and strategic planning, and India-led cost savings. Given his
value-oriented mindset and deep understanding of our business, we
are thrilled to have Mark continue as part of the Cineverse
leadership team."
Mr. Lindsey commented, "I am excited to lead the finance and
accounting organization at Cineverse as Chief Financial Officer. We
have a clear vision and set of objectives for Fiscal Year 2024, and
I look forward to contributing to the Company's future growth and
progress toward achieving our strategic goals."
About Cineverse
Cineverse is a global streaming
technology and entertainment company with one of the world's
largest portfolios of streaming channels and content libraries, all
powered by its advanced, proprietary technology platform. Cineverse
currently features enthusiast brands for subscription video on
demand (SVOD), advertising-based video on demand (AVOD) and free,
ad-supported streaming television (FAST) channels. Cineverse
entertains consumers around the globe by providing premium feature
film and television series, enthusiast streaming channels and
technology services to some of the world's largest media, retail
and technology companies. For more information, please visit
www.cineverse.com.
Safe Harbor Statement
Investors and readers are
cautioned that certain statements contained in this document, as
well as some statements in periodic press releases and some oral
statements of Cineverse officials during presentations about
Cineverse, along with Cineverse's filings with the Securities and
Exchange Commission, including Cineverse's registration statements,
quarterly reports on Form 10-Q and annual report on Form 10-K, are
"forward-looking'' statements within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act'').
Forward-looking statements include statements that are predictive
in nature, which depend upon or refer to future events or
conditions, which include words such as "expects," "anticipates,''
"intends,'' "plans,'' "could," "might," "believes,'' "seeks,"
"estimates'' or similar expressions. In addition, any statements
concerning future financial performance (including future revenues,
earnings, or growth rates), ongoing business strategies or
prospects, and possible future actions, including those relating to
the timing and completion of the proposed offering, which may be
provided by Cineverse's management, are also forward-looking
statements as defined by the Act. Forward-looking statements are
based on current expectations and projections about future events
and are subject to various risks, uncertainties, and assumptions
about Cineverse, its technology, economic and market factors, and
the industries in which Cineverse does business, among other
things. These statements are not guarantees of future performance,
and Cineverse undertakes no specific obligation or intention to
update these statements after the date of this release.
For additional information, please contact:
At Cineverse
Julie
Milstead
424-281-5411
investorrelations@cineverse.com
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SOURCE Cineverse Corp.