ROCHESTER, N.Y. ,
Dec. 15, 2022
/PRNewswire/ -- Vinco Ventures, Inc. (Nasdaq: BBIG) ("Vinco
Ventures," "Vinco," or the "Company"), a digital media and content
technologies holding company, has completed the first stage of a
carefully planned transition that positions the company with a
clear runway to focus on revenues and profitability.
As such, the Board of Directors announces court-appointed Chief
Executive Officer Ross Miller and
his team, including Gabe Hunterton,
President, have departed the company effective immediately.
Vinco Ventures is set to appoint a new permanent CEO with proven
leadership experience at successful and prestigious media companies
and entertainment brands. The candidate was subject to an extended
vetting process and whose vision aligns with the company's
long-term plans to grow and expand Vinco's content-driven ecosystem
of businesses.
"The company is grateful to Mr. Miller and Mr. Hunterton for
their services and wishes them both the best in their future
endeavors. This is a new dawn for Vinco Ventures, and the future is
extremely bright," spokesperson Javan
Khazali said.
Chairman of the Board, Rod
Vanderbilt, will assume the role of Executive Chairman and
lead all Vinco teams on a day-to-day basis.
About Vinco Ventures
Vinco Ventures (Nasdaq: BBIG) is
focused on the development of digital media and content
technologies. Vinco Ventures' consolidated subsidiary, ZVV Media
Partners, LLC, a joint venture of Vinco Ventures and ZASH Global
Media and Entertainment Corporation, has an 80% ownership interest
in Lomotif Private Limited. Vinco Ventures owns a 100%
ownership interest in AdRizer, LLC.
For more information, please visit
investors.vincoventures.com.
Forward-Looking Statements and Disclaimers
This press
release contains "forward-looking statements" as defined in the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995, which are based upon beliefs of, and
information currently available to, Vinco Ventures' management as
well as estimates and assumptions made by Vinco Ventures'
management. These statements can be identified by the fact that
they do not relate strictly to historic or current facts. When used
in this presentation the words "estimate," "expect," "intend,"
"believe," "plan," "anticipate," "projected," and other words or
the negative of these terms and similar expressions as they relate
to the applicable company or its management identify
forward-looking statements. Such statements reflect the current
view of Vinco Ventures with respect to future events and are
subject to risks, uncertainties, assumptions and other factors
relating to Vinco Ventures and its subsidiaries and consolidated
variable interest entities including Lomotif, their industry,
financial condition, operations and results of operations. Such
factors include, but are not limited to, the expected risks and
benefits from the proposed increase in Vinco Ventures' authorized
shares as described in our proxy statement, Vinco Ventures'
investments in ZVV Media Partners, LLC, Lomotif Private Limited,
PZAJ Holdings, LLC and related growth initiatives and strategies
such as the blended media, cross-platform distribution strategy,
the expected benefits of Lomotif's participation in and sponsorship
of live entertainment events, the expected benefits from
acquisition of AdRizer and planned integration of the AdRizer
technology with Lomotif and Honey
Badger and synergies between AdRizer, Lomotif and
Honey Badger, the regulatory risks
with the NFT and blockchain business lines and such other risks and
uncertainties described more fully in documents filed by Vinco
Ventures and Cryptyde with or furnished to the Securities and
Exchange Commission, including the risk factors discussed in Vinco
Ventures' Annual Report on Form 10-K for the period ended
December 31, 2021 filed on
April 15, 2022 which is
available at www.sec.gov. Should one or more of these risks
or uncertainties materialize, or the underlying assumptions prove
incorrect, actual results may differ significantly from those
anticipated, believed, estimated, expected, intended, or planned.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, performance, or achievements. Except as required by
applicable law, including the securities laws of the United States, we do not intend to update
any of the forward-looking statements to conform these statements
to actual results.
For further information, please contact:
Investor Contact
Media Contact
Vinco Ventures, Inc.
________________
Media@vincoventures.com
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SOURCE Vinco Ventures