Wrap Technologies, Inc. (Nasdaq:
WRAP) (“Wrap” or the “Company”), a global leader in
innovative safety technologies and services, today announced the
appointment of Vice Admiral (ret.) Timothy Szymanski and Rajiv
Srinivasan to serve on the Company’s Board of Directors (the
“Board”). The Company has also appointed Scot Cohen, Co-Founder, as
Executive Chairman of the Board. The addition of this leadership
fortifies the Company’s commitment to the mental well-being of
public safety officers and the community at large.
Wrap's reinvigorated Board boasts a diverse
cadre of international industry frontrunners, poised to steer the
Company's expansion as a pioneer in no-harm technology, mental
wellness solutions, virtual reality training, and transparency via
body-worn cameras and digital evidence management. Vice Admiral
(ret.) Timothy Szymanski and Rajiv Srinivasan will replace Wayne
Walker and Mike Parris as directors of the Board.
"I'm delighted to welcome the Vice Admiral and
Rajiv to the Wrap family and to see Scot Cohen elevate his role to
lead as executive chairman," said Kevin Mullins, CEO of Wrap
Technologies. "From the very beginning, Scot’s leadership
capabilities have been tried and true, and I eagerly anticipate our
collaborative efforts to propel Wrap’s onward growth. Vice Admiral
Szymanski and Rajiv’s profound expertise will deepen our commitment
to the mental well-being of both public safety officers and the
broader community."
The Board of Directors is pleased to introduce
VADM Szymanski and Rajiv Srinivasan’s new appointments:
Vice Admiral (ret.) Timothy
Szymanski has led and served in many Navy and Joint
Special Operations assignments as a Navy Special Warfare Officer
(SEAL) for over 36 years. Mr. Szymanski is a Principal of Pallas
Advisors, a strategic advisory firm specializing in navigating
complex national and international security dynamics, which he
joined in August 2023. Prior to his retirement from the United
States Navy, he most recently served as the Deputy Commander for
United States Special Operations Command (USSOCOM) after serving as
the Commander of Naval Special Warfare (NSW). Mr. Szymanski also
served on the Joint Staff as the J3 deputy directorate for Special
Operations as the Global War on Terror branch chief and as chief
staff officer of Pakistan-Afghanistan Coordination Cell. Mr.
Szymanski graduated from the United States Naval Academy in 1985.
He completed a Master of Joint Campaign Planning and Strategy at
the Joint Advanced Warfighting School.
Rajiv Srinivasan is a sales and
general management professional in the technology and software
industry. He has served in senior sales & management roles at
Microsoft, as a global account manager at VMware, and in enterprise
and global account management at MobileIron. He was on the founding
team of Morta Security, a venture-backed cybersecurity company
acquired by Palo Alto Networks. Mr. Srinivasan began his career as
an officer in the U.S. Army, and was awarded the Bronze Star &
Combat Action Badge for service in Kandahar, Afghanistan. Mr.
Srinivasan is a member of the board of directors of Families
Against Mandatory Minimums (FAMM) where he supports legislative
efforts to end mass incarceration. He has written for
the New York Times and Time Magazine on military and veterans
affairs and mental health. He holds a B.S. from West Point, an MBA
from The Wharton School, an M.S. in Applied Mathematics from
Columbia University.
“Today’s Board of Directors appointments
represent our commitment to furthering Wrap’s position as the
leader in innovative public safety technologies and solutions,”
said Scot Cohen, Executive Chairman of the Board of Wrap
Technologies. “Vice Admiral Szymanski and Rajiv’s extensive careers
in the military, training, and the federal government bring a
unique perspective that will help shape the future of Wrap’s
product offering. As outspoken mental health advocates who are
passionate about combatting the global mental health crisis, they
also represent Wrap’s commitment to building solutions to fight
this epidemic. The Board’s extensive knowledge and leadership
experience will provide tremendous value to the organization. I
would also like to thank Wayne and Mike for their years of service
to Wrap.”
For more information on the company, please
visit wrap.com.
About Wrap
Wrap Technologies, Inc. (Nasdaq: WRAP) is a
leading global provider of advanced public safety solutions,
integrating ultramodern technology, cutting-edge tools, and
comprehensive services to address the complex, modern day
challenges facing public safety organizations around the world.
Guided by a no-harm principle, Wrap is dedicated to developing
groundbreaking solutions that empower public safety agencies to
safeguard the communities they serve in a manner that fosters
stronger relationships. Driving safer outcomes, empowering public
safety and communities to move forward together.
Wrap's BolaWrap® solution encompasses an
innovative and patented hand-held remote restraint device,
strategically engineered with Wrap’s no-harm guiding principle to
proactively deter escalation by deploying a Kevlar® tether that
safely restrains individuals from a distance. Combined with
BolaWrap® training, certified by the esteemed International
Association of Directors of Law Enforcement Standards and Training
(IADLEST), Wrap enables officers from over 900 agencies across the
U.S. and 60 countries around the world, with the expertise to
effectively use BolaWrap® as an early intervention measure,
mitigating potential risks and injuries, averting tragic
outcomes. Saving lives with each wrap.
Wrap Reality™, the Company’s advanced virtual
reality training system, is a fully immersive training simulator
and comprehensive public safety training platform equips first
responders with the discipline and practice to prevent escalation,
de-escalate conflicts, and apply appropriate tactical use-of-force
measures to better perform in the field. By offering a growing
range of real-life scenarios, Wrap Reality™ addresses the dynamic
nature of modern law enforcement situations for positive public
safety outcomes. Building safer communities one decision at a
time.
Wrap’s Intrensic solution is a comprehensive,
secure and efficient body worn camera and evidence collection and
management solution designed with innovative technology to quickly
capture, safely handle, securely store, and seamlessly track
evidence, all while maintaining full transparency throughout the
process. With meticulous consolidation and professional management
of evidence, confidence in law enforcement and the justice system
soars, fostering trust and reliability in court outcomes.
Intrensic’s efficient system streamlines the entire process
seamlessly, empowering all public safety providers to focus on what
matters. Expediting justice with
integrity. Connect with Wrap: Wrap
on Facebook Wrap on Twitter Wrap on
LinkedIn Trademark Information
Wrap, the Wrap logo, BolaWrap®, Wrap Reality™ and Wrap
Training Academy are trademarks of Wrap Technologies, Inc., some of
which are registered in the U.S. and abroad. All other trade names
used herein are either trademarks or registered trademarks of the
respective holders.
Cautionary Note on Forward-Looking
Statements - Safe Harbor Statement This press release
contains “forward-looking statements” within the meaning of the
“safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, including but not limited to: statements
regarding the Company’s overall business; total addressable market;
and, expectations regarding future sales and expenses. Words such
as “expect,” “anticipate,” “should”, “believe”, “target”,
“project”, “goals”, “estimate”, “potential”, “predict”, “may”,
“will”, “could”, “intend”, and variations of these terms or the
negative of these terms and similar expressions are intended to
identify these forward-looking statements. Moreover,
forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond the Company’s control. The Company’s actual results
could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including
but not limited to: the Company’s ability to successful implement
training programs for the use of its products; the Company’s
ability to manufacture and produce product for its customers; the
Company’s ability to develop sales for its new product solution;
the acceptance of existing and future products; the availability of
funding to continue to finance operations; the complexity, expense
and time associated with sales to law enforcement and government
entities; the lengthy evaluation and sales cycle for the Company’s
product solution; product defects; litigation risks from alleged
product-related injuries; risks of government regulations; the
business impact of health crises or outbreaks of disease, such as
epidemics or pandemics; the impact resulting from geopolitical
conflicts and any resulting sanctions; the ability to obtain export
licenses for counties outside of the U.S.; the ability to obtain
patents and defend I.P. against competitors; the impact of
competitive products and solutions; and the Company’s ability to
maintain and enhance its brand, as well as other risk factors
mentioned in the Company’s most recent annual report on Form 10-K,
quarterly report on Form 10-Q, and other SEC filings. These
forward-looking statements are made as of the date of this press
release and were based on current expectations, estimates,
forecasts, and projections as well as the beliefs and assumptions
of management. Except as required by law, the Company undertakes no
duty or obligation to update any forward-looking statements
contained in this release as a result of new information, future
events or changes in its expectations.
Wrap’s headquarters are in Tempe, Arizona. For more information,
please visit wrap.com.
Investor Relations Contact:
800.583.2652ir@wrap.com
Media Relations Contact: Leigh Anne Arnold5W
Public Relationswrap@5wpr.com
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