Acacia Research Appoints Martin D. McNulty, Jr. To Board of Directors, Named Permanent CEO
Acacia Research Corporation (NASDAQ:ACTG) today announced that Martin ("MJ") D. McNulty, Jr. has been named as Acacia's permanent Chief Executive Officer. Mr. McNulty has been serving as the Company's Interim Chief Executive Officer since November 1, 2022.
In addition, the Board of Directors expanded the size of the Board from six to seven directors, and the Board appointed Mr. McNulty as a director of the Company to serve until the Company's 2024 annual meeting of stockholders.
"The Board is extremely grateful for MJ's contributions as Interim Chief Executive Officer and believes he is the right leader for the company going forward," commented Gavin Molinelli, Acacia's Chairman. "Since being appointed to his interim role, MJ has worked closely with the Board while spearheading Acacia's efforts to build a top-notch team and execute on the company's acquisition strategy. The Board is confident that MJ possesses the unique skillset, leadership and strategic vision to lead Acacia forward. We look forward to continuing to work with MJ to create value at the Company."