Cognyte Announces Changes to its Board of Directors
11 Julio 2023 - 7:00AM
Business Wire
Dan Bodner to Complete His Current Term and Not
Stand for Reelection in Cognyte’s Upcoming Annual Shareholder
Meeting;
Earl Shanks to Become the Next Chairman of the
Board
Cognyte Software Ltd. (NASDAQ: CGNT) (the “Company,” “Cognyte,”
“we,” “us” and “our”), a global leader in investigative analytics
software, today announced that Dan Bodner, the chairman of our
Board of Directors, has decided not to stand for reelection to the
Company’s Board of Directors at the upcoming 2023 annual
shareholder meeting. The Board of Directors resolved to name Earl
Shanks as its new chairman and to reduce its size to seven members,
all effective immediately after the 2023 annual shareholders
meeting.
“Cognyte is a leader in investigative analytics, with tremendous
potential for future growth. I have served as Chairman of Cognyte’s
Board since it spun off from Verint, becoming a standalone public
company. I believe this is the right time for me to focus
exclusively on my role as Chairman and CEO of Verint, and I am
pleased the Cognyte Board of Directors has chosen Earl to become
the new chairman,” said Mr. Bodner.
Earl Shanks has been a director of Cognyte since the spin-off
from Verint, and previously served as a director of Verint at the
time that Cognyte was a business unit within Verint. Mr. Shanks
added, “On behalf of the Board, I would like to express my deep
appreciation to Dan and his many contributions, including guiding
Cognyte to becoming an independent public company. Looking ahead, I
believe Cognyte has a significant growth opportunity, and am very
excited about Cognyte’s future.”
About Cognyte Software Ltd. Cognyte Software Ltd. is a
global leader in investigative analytics software that empowers a
variety of government and other organizations with Actionable
Intelligence for a Safer World™. Our open interface software is
designed to help customers accelerate and improve the effectiveness
of investigations and decision-making. Hundreds of customers rely
on our solutions to accelerate and conduct investigations and
derive insights, with which they identify, neutralize, and tackle
threats to national security and address different forms of
criminal and terror activities. Learn more at
www.cognyte.com.
Caution About Forward-Looking Statements This press
release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995 and Section
21E of the United States Securities Exchange Act of 1934.
Forward-looking statements include statements regarding
expectations, predictions, views, opportunities, plans, strategies,
beliefs, and statements of similar effect relating to Cognyte. All
statements contained in this press release that do not relate to
matters of historical fact should be considered forward-looking
statements. These forward-looking statements do not guarantee
future performance and are based on management’s expectations that
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, any of which could cause
our actual results or conditions to differ materially from those
expressed in or implied by the forward-looking statements. Some of
the factors that could cause our actual results or conditions to
differ materially from current expectations include, among others:
uncertainties regarding the impact of changes in macroeconomic
and/or global conditions; risks related to the impact of inflation
and related volatility on our financial performance; risks related
to the impact of disruptions to the global supply chain; risks
related to the continuing restrictions resulting from the COVID-19
pandemic on our operations and business; risks relating to the
global regulatory constraints to which we are subject; risks
associated with political and reputational factors related to our
business or operations; risks related to claims by third parties
that our solutions infringe their terms of use or other propriety
rights; risks that our products or services, or those of
third-party suppliers, partners, or original equipment
manufacturers (“OEMs”) which we use in or with our offerings or
otherwise rely on, including third-party hosting platforms, may
contain defects, develop operational problems, or be vulnerable to
cyber-attacks; risks associated with larger orders and customer
concentration; risks associated with our ability to keep pace with
technological advances and challenges and evolving industry
standards; risks related to our relationships with and reliance on
third parties for certain components, products, or services; risks
due to aggressive competition in all of our markets; challenges
associated with selling sophisticated solutions, risks associated
with customer concentration, including risks related to significant
amounts of our business coming from government customers around the
world; risks associated with our ability or costs to retain,
recruit, and train qualified personnel in regions in which we
operate; risks relating to our ability to properly manage
investments in our business and operations; risks associated with
acquisitions, strategic investments, partnerships or alliances;
risk of security vulnerabilities or lapses, including
cyber-attacks, information technology system breaches, failures or
disruptions; risks associated with the mishandling or perceived
mishandling of sensitive, confidential or classified information;
risks associated with our failure to comply with anti-corruption,
trade compliance, anti-money-laundering and economic sanctions laws
and regulations; risks associated with our credit facilities, or
that we may experience liquidity or working capital issues and
related risks that financing sources may be unavailable to us on
reasonable terms; risks associated with changing tax laws and
regulations; risks associated with our significant international
operations; risks associated with market volatility in the price of
our shares; risks associated with complex and changing regulatory
environments relating to our operations and the markets we operate
in; risks relating to the adequacy of our existing infrastructure,
systems, processes, policies, procedures, internal controls, and
personnel for our current and future operations and reporting
needs; risks related to our limited operating history as an
independent public company; risk that the spin-off does not achieve
the benefits anticipated, does not qualify as a tax-free
transaction, or exposes us to unexpected claims or liabilities;
risks associated with different corporate governance requirements
applicable to Israeli companies; and other risks set forth and in
Section 3.D – “Risk Factors” in our latest annual report on Form
20-F for the fiscal year ended January 31, 2023, which was filed
with the Securities and Exchange Commission (the “SEC”), along with
other documents submitted to the SEC, on April 11, 2023. In
addition, we operate in a very competitive and rapidly changing
environment. New risks emerge from time to time. It is not possible
for our management to predict all risks, nor can we assess the
impact of all factors on its business or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements that we may make. In light of these risks, uncertainties
and assumptions, the forward-looking events and circumstances
discussed in this release are inherently uncertain and may not
occur, and actual results could differ materially and adversely
from those anticipated or implied in the forward-looking
statements. Accordingly, you should not rely upon forward-looking
statements as predictions of future events. Any forward-looking
statement made in this press release speaks only as of the date
hereof. Except as otherwise required by law, the Company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events,
changed circumstances, or any other reason.
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Investor Relations Dean
Ridlon Cognyte Software Ltd. IR@cognyte.com
Cognyte Software (NASDAQ:CGNT)
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