LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--
SED International Holdings (NYSE MKT:SED),
a multinational supply chain management provider and distributor of
leading computer technology, consumer electronics, and small appliances
products, today announced that it has hired Stephen M. Dexter as Interim
CFO following the resignation of prior CFO Christopher R. Joe effective
as of October 25, 2013. SED has also appointed John “Mike” R. Hagan as
Interim CEO following the resignation of former CEO Robert O’Malley on
October 24, 2013. Mr. O’Malley will remain with the Company as an
Advisor to the Board until November 21, 2013.
In addition, on October 23, 2013 and October 28, 2013 SED filed a Form
8-K with the Securities and Exchange Commission disclosing other recent
developments that have taken place at SED. The Company encourages all
shareholders to read them.
“In the light of the Company’s declining financial performance over the
past four fiscal quarters, the recently appointed Board of Directors at
SED was compelled to act quickly and prudently to provide SED with
executive leadership to move the Company forward,” said Sham Gad,
Chairman of SED.
About Stephen M. Dexter
Mr. Dexter has over 20 years of domestic and international finance and
accounting experience. From September 2012 to May 2013, he provided
financial support consulting services to CDC Corporation, a former
holding company of CDC Software, and to CDC Software, a global software
provider of on-premise and cloud deployments, from June 2010 to August
2012. Mr. Dexter served as Chief Financial Officer of CDC Software, in
which role he was responsible for the company’s accounting, finance,
tax, treasury and compliance functions, from September 2010 to August
2012, and as Chief Accounting Officer of CDC Software, overseeing the
company’s accounting and compliance functions, from June 2010 to June
2011. Mr. Dexter graduated from Clemson University with a B.S. in
Accounting and is a Certified Public Accountant.
About John “Mike” R. Hagan
Mr. Hagan most recently served as Chief Operating Officer of SM Jaleel &
Company Ltd., a privately-held manufacturer of non-alcoholic beverages,
from 2012 to July 2013, where he was involved with supply chain
efficiency, product development, business integration and revenue
enhancement initiatives. From 2011 to 2012, Mr. Hagan served as Senior
Executive Vice President and Chief Operating Officer of Shasta
Beverages, Inc., a wholly-owned subsidiary of National Beverage Corp., a
publicly-traded non-alcoholic beverage company, where he oversaw
manufacturing, sales, finance, marketing, operations and human
resources. Prior to that date, he served as President of Pepsi Americas
Puerto Rico, a manufacturer and distributor of carbonated and
non-carbonated beverages, milk, beer and snacks, from 2006 to 2009;
Senior Vice President-Sales & Marketing with the Philadelphia Coca Cola
Bottling Company from 1998 to 2005; and held various divisional
management positions with Coca-Cola Enterprises from 1992 to 1998.
SED International Holdings, Inc.
Stephen Dexter, 770-243-1200
Chief Financial Officer
Source: SED International Holdings, Inc.