Vislink Appoints Christopher DeSalvo as Chief Financial Officer and Vice President of Operations
Mt. Olive, NJ, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. ("Vislink" or the "Company") (NASDAQ:VISL), a global technology leader in the capture, delivery, and management of high quality, live video and associated data in the media and entertainment, law enforcement, and defense markets, today announced the appointment of Christopher DeSalvo as its Chief Financial Officer and Vice President of Operations, effective immediately.
DeSalvo is a distinguished leader with a proven track record of leading significant financial and operational transformations in large-scale enterprises. He began his career at First Union National Bank, focusing on capital markets and corporate finance, and progressively held various roles in finance, risk management, and strategic planning. This led to him becoming the Chief Financial Officer for Business Banking and Small Business Capital at Wachovia. Subsequently, DeSalvo served as the CFO for the Southeast and Mid-Atlantic regions, overseeing 20 successful merger integrations, including those with SouthTrust and Signet.
In his most recent role as Shared Services and Operations Executive at Paychex, DeSalvo led initiatives resulting in substantial annual savings, operational excellence, and robust client engagement. His expertise in building and deploying operational infrastructures and processes significantly enhanced service delivery and operational efficiency, contributing to significant growth in revenue and EPS.
Mickey Miller, CEO of Vislink, stated: "With Christopher's leadership in finance and operations, Vislink is poised to build upon recent transformations, including our lowered revenue breakeven point and increased operational efficiencies. His acumen will be key in leveraging our strong balance sheet, driving growth, integrating the recently acquired BMS assets effectively, and strengthening our recurring revenue streams."
DeSalvo added: "I am grateful for the opportunity to join Vislink at this pivotal time. As the Company emerges from a year of solid growth in its core MilGov segment, my immediate focus will be on guiding key integrations and establishing sustainable operational processes. This approach will be key to capitalizing on opportunities within our strong sales pipeline, with the aim of accelerating top-line growth."
Paul Norridge will transition from his role as Chief Financial Officer of the Company to the position of Vice President of Finance. He will serve in this capacity until March 31, 2024, at which point he will become an advisor to the Company as needed. This transition is part of a mutually agreed plan and reflects a shared commitment to ensure a smooth and effective transition. Vislink expresses its gratitude to Mr. Norridge for his contributions over the past 15 years.
Note on Forward-looking Statements
Certain statements in this press release are forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact included in this press release, including those regarding the Company's strategy, new hires, future operations, future revenues, growth, profitability results, and financial position, risks of supply chain constraints and inflationary pressures, projected expenses, prospects, plans including footprint and technology asset consolidations, objectives of management, new capabilities, product and solutions launches including AI-assisted and 5G streaming technologies, expected contract values, projected pipeline sales opportunities and transactions in our sales pipeline, Q4 cash collection and revenue from late Q3 orders, acquisitions integration including the recently acquired BMS assets, cost savings, and expected market opportunities across the Company's operating segments including the live event production market, the effects of the COVID-19 pandemic, the sufficiency of the Company's capital resources to fund the Company's operations and any statements regarding future results are forward-looking statements. Vislink may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in any forward-looking statements such as the foregoing, and you should not place undue reliance on such forward-looking statements. Such statements are based on management's current expectations and involve risks and uncertainties, including those discussed in Vislink's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission ("SEC") on March 31, 2023, and in subsequent filings with, or submissions to, the SEC from time to time.
About Vislink Technologies, Inc.
Vislink Technologies is a global technology leader in capturing, delivering and managing high-quality live video and associated data. With a renowned heritage in video communications encompassing over 50 years, Vislink has revolutionized live video communications by delivering the highest-quality video from the scene, even in the most challenging transmission conditions—enabling broadcasters and public safety agencies to capture and share live video seamlessly and securely. Through its Mobile Viewpoint product lines, Vislink also provides live streaming solutions using bonded cellular, 5G, and AI-driven technologies for automated news and sports productions. Vislink's shares of common stock are publicly traded on the Nasdaq Capital Market under the ticker symbol "VISL." For more information, visit www.vislink.com.
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