VANCOUVER, British Columbia — October 4, 2019 —Absolute (TSX: ABT) today announced that Errol Olsen, Chief Financial Officer, and Todd Wakerley, Executive Vice President, Product Development, will be leaving Absolute, each for personal reasons, following a period of planned leadership transition.
“Errol’s leadership as Absolute’s CFO for over nine years has been critical in Absolute becoming what it is today, while Todd’s extensive experience in innovation and building solutions that solve leading-edge challenges for customers and partners has significantly contributed to Absolute’s success,” said Christy Wyatt, Chief Executive Officer at Absolute. “On behalf of our entire workforce, we wish them both the very best in their future endeavors. I am very confident in the strength of our leadership team to continue executing and delivering world-class and innovative products during this period of transition.”
“It has been a tremendous career experience working at Absolute, and I am proud of what Absolute has accomplished over my tenure,” said Mr. Olsen. “Absolute is well positioned to achieve its strategic goals and create shareholder value. I remain a strong champion of the company and I look forward to following its future success.”
“I’ve had an amazing journey at Absolute and am incredibly pleased with the product capabilities we’ve brought to market during my four years with the company,” said Mr. Wakerley. “I continue to be a huge fan of our product, people, mission, and vision.”
Mr. Olsen is expected to remain in his role until the end of calendar 2019 and to provide additional transitional support after that as needed. An active search for a new CFO is underway.
Mr. Wakerley is expected to remain in his role until October 31, 2019. A successor has been identified and will be announced at a later date.
Absolute empowers more than 12,000 customers worldwide to protect devices, data, applications, and users against theft or attack—both on and off the corporate network. With the industry’s only tamper-proof endpoint visibility and control solution, Absolute allows IT organizations to enforce asset management, security hygiene, and data compliance for today’s remote digital workforces. Absolute’s patented Persistence® technology is embedded in the firmware of Dell, HP, Lenovo, and 22 other leading manufacturers’ devices for vendor-agnostic coverage, tamper-proof resilience, and ease of deployment. See how it works at www.absolute.comand follow us at@absolutecorp.
This press release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) which relate to future events or Absolute’s future business, operations, and financial performance and condition. Forward-looking statements normally contain words like “will”, “intend”, “anticipate”, “could”, “should”, “may”, “might”, “expect”, “estimate”, “forecast”, “plan”, “potential”, “project”, “assume”, “contemplate”, “believe”, “shall”, “scheduled”, and similar terms and, within this press release, include, without limitation, any statements (express or implied) respecting Absolute’s plans and expectations for Mr. Olsen’s and Mr. Wakerley’s respective transition periods and the recruitment and appointment of a new CFO and Mr. Wakerley’s successor. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. The material expectations, assumptions, and other factors used in developing the forward-looking statements set out herein include or relate to the following, without limitation: Mr. Olsen and Mr. Wakerley will remain with Absolute for their respective transition periods as currently expected; Absolute will be able to successfully recruit and hire a suitable new CFO on the timeline currently contemplated; and Absolute will be able to successfully hire and announce Mr. Wakerley’s successor on the timeline currently contemplated.
Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Absolute’s business, as more particularly described in the “Risk and Uncertainties” section of Absolute’s most recently filed Management’s Discussion and Analysis, which is available at www.absolute.com and under Absolute’s profile on www.sedar.com. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. Many of these factors are beyond the control of Absolute.
All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof and Absolute undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws.