Alanco Reports Death of CEO Robert R. Kauffman
SCOTTSDALE, Ariz. -- March 18, 2014
Alanco Technologies, Inc. (OTCBB: ALAN) reported with deep sadness the passing
of the Company’s President, Chief Executive Officer and Chairman of the Board,
Robert R. Kauffman. Mr. Kauffman had served as the President, CEO and Chairman
since July 1998. His leadership will be greatly missed.
Effective as of March 14, 2014, the Company’s Board of Directors appointed
John A. Carlson to serve as the President and Chief Executive Officer. Mr.
Carlson joined the Company in September 1998 as the Chief Financial Officer
and Executive Vice President and was made a Director in 1999. The Board also
appointed Danielle Haney as Chief Financial Officer. Ms. Haney joined the
Company in September 2001 and has most recently served as the Corporate
Controller and Corporate Secretary. Ms. Haney will continue to serve as
Corporate Secretary. The Board has delayed action regarding the nomination or
naming of a successor director.
EXCEPT FOR HISTORICAL INFORMATION, THE STATEMENTS CONTAINED IN THIS PRESS
RELEASE ARE FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL SUCH
FORWARD-LOOKING STATEMENTS ARE SUBJECT TO, AND ARE QUALIFIED BY, RISKS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
EXPRESSED OR IMPLIED BY THOSE STATEMENTS. THESE RISKS AND UNCERTAINTIES
INCLUDE, BUT ARE NOT LIMITED TO, REDUCED DEMAND FOR OUR PRODUCTS; COMPETITIVE
PRICING AND DIFFICULTY MANAGING PRODUCT COSTS; DEVELOPMENT OF NEW
TECHNOLOGIES; RAPID INDUSTRY CHANGES; FAILURE OF AN ACQUIRED BUSINESS TO
FURTHER THE COMPANY’S STRATEGIES; THE ABILITY TO MAINTAIN SATISFACTORY
RELATIONSHIPS WITH LENDERS AND REMAIN IN COMPLIANCE WITH FINANCIAL COVENANTS
AND OTHER REQUIREMENTS UNDER CURRENT BANKING AGREEMENTS; AND MARKET RISK
ASSOCIATED WITH HOLDING ORBCOMM STOCK.
Alanco Technologies, Inc.
John Carlson, 480-505-4869
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