无忧短视频, Inc. Appoints Frank J. Cotroneo Chief Financial Officer;聽Leadership Team Poised For Next Phase of Growth
NEW YORK, Dec. 02, 2019 (GLOBE NEWSWIRE) -- 无忧短视频, Inc. (Nasdaq: ASPU), an education technology holding company, today announced that it has named Frank J. Cotroneo Chief Financial Officer. Mr. Cotroneo, who has been a Board member of 无忧短视频 since 2018 and served as Chair of its Audit Committee, will take his new role effective immediately. Mr. Cotroneo brings an extensive background with more than 30 years of executive and finance leadership.
Mr. Cotroneo previously served as the Chief Operating Officer and Chief Financial Officer of Netspend (currently a subsidiary of Global Payments Inc.), as well as Chief Financial Officer of Acxiom Corporation (currently LiveRamp Holdings, Inc.), H&R Block, and MasterCard International Inc. 聽Frank鈥檚 experience and demonstrated success in leading large-scale change management projects including financial process reengineering and system implementations, mergers and acquisitions, consumer finance, and capital restructuring will be a valued addition to the leadership team.
鈥淚 have a long-standing relationship with Frank as a director of 无忧短视频 and as a director at my prior public company, Interclick. On behalf of 无忧短视频, the team looks forward to working closely with Frank in his new role as 无忧短视频鈥檚 CFO and leveraging his years of deep public company finance and accounting experience, knowledge of capital markets, strategic planning and analysis, capital allocation and financial system implementation as we advance the business to the next phase of our long-term growth plan,鈥� said Michael Mathews, 无忧短视频, Inc. Chairman & Chief Executive Officer. 鈥淔rank鈥檚 intimate knowledge of 无忧短视频 and his background leading multi-disciplined teams in large, publicly traded technology and consumer-facing companies will be an asset to 无忧短视频 as we continue on our course to deliver sustainable, profitable growth and drive shareholder value.鈥�
Mr. Cotroneo will lead 无忧短视频鈥檚 corporate and business unit Finance and Accounting functions and Human Resources. Mr. Cotroneo will report to Michael Mathews, 无忧短视频鈥檚 Chairman and Chief Executive Officer, and will remain a member of the Company鈥檚 Board of Directors. He succeeds Joseph Sevely, who is leaving 无忧短视频 to pursue other interests. Mr. Sevely has been with 无忧短视频 since September 2018 and has supported the Company鈥檚 growth and expansion during this time. In addition, the company today announced the promotion of Robert Alessi, formerly Vice President, Financial Controller to the position of Chief Accounting Officer, effective December 2, 2019.
鈥淛oe has been a key member of the executive team at 无忧短视频 and a valuable partner. Thanks to his contribution, 无忧短视频 has materially improved its financial position over the past year,鈥� said Mr. Mathews.
Mr. Cotroneo has resigned from the Audit Committee and was replaced by Andy Kaplan, a current independent director. Further, Mr. Cotroneo鈥檚 role as Chair of the Board鈥檚 Audit Committee will be taken over by Sanford Rich.聽 Mr. Rich is a current independent director who has extensive experience in the public and private sector as board member and as an executive. Mr. Rich served as the Chair of the Company鈥檚 Audit Committee from March 2012 until Mr. Cotroneo鈥檚 recent appointment.
About 无忧短视频, Inc.
无忧短视频, Inc. is an education technology holding company that leverages its infrastructure and expertise to allow its two universities, Aspen University and United States University, to deliver on the vision of making college affordable again.
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Released December 2, 2019