Document Security Systems Nominates Two New Board Members
ROCHESTER, N.Y., April 25, 2012 /PRNewswire/ -- Document Security Systems, Inc. (NYSE Amex: DSS; "DSS"), a leading developer and integrator of cloud computing data security and security printing technologies which prevent counterfeiting and brand fraud, announced today it has nominated two new candidates for election to its board of directors.
DSS has nominated Roger O'Brien and David Klein to stand for election as independent members of the board at the Annual Meeting of Stockholders on June 14, 2012. Current Directors, Tim Ashman (a director since 2004) and Alan Harrison (a director since 2003), will not seek re-election at the annual meeting. Their terms as director will end on June 14, 2012.
"Both Roger and David have experience and expertise that will make them valuable additions to our Board of Directors," said Robert Fagenson, Chairman of Document Security Systems (DSS), Inc. "In addition to John Cronin, who recently joined our Board in February, Roger and David will bring fresh perspectives and proven success to our Board as DSS continues to progress its long-term strategic plan. We truly appreciate the work and contribution that Tim and Al made to DSS during their tenure."
Roger O'Brien is President of O'Brien Associates, LLC, a general management consulting firm providing advisory and implementation services to managements in a variety of competitive industries, with special focus on interim general management, technology commercialization, marketing and strategy development. The firm was founded in 1999 and has offices in Rochester, New York and Santa Fe, New Mexico. Mr. O'Brien's background includes serving as Chief Operating Officer of Ultralife Batteries, Inc. a publicly-held manufacturer of advanced battery power sources and as an officer of Sun Microsystems, Inc. during a period in the late 1980's when the company grew from $500 million to $2 billion in sales over a 24-month period. Mr. O'Brien is a member of the Board of Directors of Odyssey Software, Inc. and Bristol ID Technologies, Inc. He also serves as an adjunct professor of the Human Resources Development graduate school program at Rochester Institute of Technology. Mr. O'Brien received a Bachelor of Science degree in Nuclear Engineering from New York University and a MBA from The Wharton School of the University of Pennsylvania.
David Klein has served as Senior Vice President & Treasurer of Constellation Brands, Inc., since March 2009. From September 2004 until March 2009, Mr. Klein served in the capacities of Vice President, Business Development and Chief Financial Officer of Constellation Europe, for Constellation Brands. In his current role, Mr. Klein is responsible for the quantitative management of risk, improving company-wide cash flow generation and the management of capital structure. Mr. Klein's previous contributions at Constellation Brands include lead roles in several international acquisitions and divestitures, as well as conceptualizing and executing Constellation's United Kingdom distribution joint venture. Preceding his tenure at Constellation Brands, Mr. Klein was Chief Financial Officer at Montana Mills Bread Co., Inc., where he was involved with the transition from private to public company status and the subsequent sale of Montana Mills to Krispy Kreme Doughnuts Inc. Mr. Klein holds a Bachelor's Degree in Economics from SUNY Geneseo and received his MBA from SUNY Buffalo.
About DSS (Document Security Systems, Inc.):
DSS provides counterfeit prevention and comprehensive brand and digital information protection solutions to corporations, governments, and financial institutions around the world. DSS develops and manufactures products and services containing patented and patent pending optical deterrent technologies that help prevent counterfeiting and brand fraud from the use of the most advanced scanners and copiers in the market. DSS's customized solutions are designed to protect against product diversion, counterfeit, and other costly and damaging events. In addition, The Company owns numerous patented and patent-pending technologies and products.
For more information on DSS and its subsidiaries, please visit DSSsecure.com.
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The statements contained in this press release that are not purely historical are 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, and are intended to be covered by the safe harbors created thereby. These forward-looking statements include, but are not limited to, statements regarding expectations for future financial performance, potential sales from new and existing customers, expected benefits from the Company's cost cutting efforts and/or statements preceded by, followed by or that include the words "believes," "could," "expects," "anticipates," "estimates," "intends," "plans," "projects," "seeks," or similar expressions, all of which involve uncertainty and risk. Many of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 filed with the Securities and Exchange Commission (the "SEC"), and in any subsequent reports filed with the SEC, all of which are available at the SEC's website at www.sec.gov. It is possible the company's future financial performance may differ from expectations due to a variety of factors including, but not limited to, the risks referred to above, and changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, changes in interest and foreign exchange rates, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.
SOURCE Document Security Systems, Inc.