SED International Announces Recent Management Changes
LAWRENCEVILLE, Ga. -- October 29, 2013
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
Interim Chief Financial Officer
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