PALM BEACH, Fla., July 2, 2014 /PRNewswire/ -- Global Digital
Solutions, Inc. (OTCQB: GDSI), a company that is positioning itself
as a leader in providing cyber arms manufacturing and complementary
security and technology solutions, today announced that
Stephen L. Norris has joined the
Company's Board of Directors and has been named Chairman and CEO of
GDSI International.
Currently serving as Chairman of Stephen Norris Capital
Partners, LLC, Mr. Norris has substantial expertise in structuring,
negotiating and implementing leveraged buy-outs, cash-flow-based
investments and financing strategies in the public and private
capital markets.
Mr. Norris is one of five co-founders of the Carlyle Group, a
major merchant bank based in Washington, D.C. From 1988-1997, Mr.
Norris served as Carlyle's President. He was a principal
participant and key advisor in Carlyle's numerous investments in
various public and private companies. While at Carlyle, Mr.
Norris, along with other senior members of the Carlyle team,
participated in the acquisition, disposition, strategic focusing
and financing (in public and private markets) of numerous companies
involving several billion dollars of equity capital. Carlyle
invested in leveraged buyouts (LBOs), venture capital (particularly
telecommunications and wireless companies in the pre-Internet
days), and real estate. Today, Carlyle is one of the largest
and most successful private equity firms in the world.
"The entire GDSI team is thrilled that Steve Norris has joined our board of directors
and that he will serve as chairman and CEO of GDSI International,"
said Richard J. Sullivan, GDSI's
President and CEO. "Steve's record of success in negotiating
and implementing large-scale investments and financing strategies
is truly world-class. The fact that Steve has developed
senior-level working relationships with essentially all of the
major investment banks in the United
States and in the international arena will prove to be
highly beneficial as GDSI implements our global growth
strategy. I welcome Steve
Norris to the GDSI senior leadership team and look forward
to working closely with him and benefiting from his incomparable
experience in seizing profitable opportunities in U.S. and global
capital markets."
"I'm honored to join the GDSI board and to begin serving as
Chairman and CEO of GDSI International," said Stephen Norris. "Dick Sullivan and the entire GDSI leadership
team have a remarkable record of acquiring and growing leading-edge
technology companies. I see enormous growth opportunity for
GDSI in both the U.S. and the international arenas and I certainly
look forward to working with the GDSI team to leverage these
opportunities in the months and years ahead."
More About Stephen L. Norris, JD, LLM
The Honorable Stephen L. Norris served on the Board of Directors of
each major Carlyle Group portfolio company and played a major role
in strategic decisions. During his tenure, Carlyle's investments
produced very successful returns for the investors, averaging
approximately a realized 40% internal rate of return (IRR).
Most notably, Mr. Norris had direct responsibility for well
over $1 billion in investments, in
addition to directing and managing a prominent investor's
investment in the recapitalization of Citibank now Citigroup. Mr.
Norris' business relationships also made possible this investor's
subsequent investments in Euro Disney and Four Seasons Hotels.
By the end of 1998, these three investments had produced well
over $10 billion in profits.
In 1992, Mr. Norris was appointed by President George Bush, and confirmed by the U.S. Senate,
as one of the five board members of the approximately (at the time)
$68 billion Federal Retirement Thrift
Investment Board. During his tenure (1992-1995), Mr. Norris
successfully advocated for the right of Federal employees to
allocate a greater portion of their savings into public
equities. Until late 1996, Mr. Norris served on the Advisory
Committee of SEAG, Inc. which advises the Saudi Government on
economic development and diversification within the Kingdom of Saudi Arabia.
Prior to co-founding Carlyle, Mr. Norris was a Corporate Vice
President of Marriott Corporation in Washington, D.C. He was a principal strategist
and advisor for Marriott's substantial public and private
financings, limited partnerships, acquisitions and divestitures
from 1981 to mid-1987.
Mr. Norris was a Fellow at Yale Law School (1977) and received a
B.S. and J.D. (1972, 1975) with honors from the University of Alabama, and an L.L.M. from
New York University (1976).
About Global Digital Solutions, Inc.
Global Digital
Solutions is positioning itself as a leader in providing cyber arms
manufacturing and complementary security and technology
solutions. On June 18, 2014,
GDSI announced the acquisition of North American Custom Specialty
Vehicles, LLC (NACSV), a leading builder of mobile
command/communications and specialty vehicles for emergency
management, first responders, national security and law enforcement
operations. For more information about NACSV's suite of
advanced vehicles, click here or visit
http://www.gdsi.co/nacs_vehicles.html. For more
information about GDSI, visit http://www.gdsi.co.
Forward Looking Statements
This press release contains
"forward looking statements". The statements contained in this
press release that are not purely historical are forward-looking
statements. Forward-looking statements give the Company's current
expectations or forecasts of future events. Such statements are
subject to risks and uncertainties that are often difficult to
predict and beyond the Company's control, and could cause the
Company's results to differ materially from those described.
In some cases forward-looking statements can be identified by
terminology such as "may," "should," "potential," "continue,"
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," and similar expressions. These statements include
statements regarding moving forward with executing the Company's
global growth strategy. The statements are based upon current
beliefs, expectations and assumptions and are subject to a number
of risks and uncertainties, many of which are difficult to predict.
The Company is providing this information as of the date of this
press release and does not undertake any obligation to update any
forward looking statements contained in this press release as a
result of new information, future events or otherwise, except as
required by law. We have based these forward looking
statements largely on our current expectations and projections
about future events and financial trends affecting the financial
condition of our business. Forward looking statements should
not be read as a guarantee of future performance or results, and
will not necessarily be accurate indications of the times at, or
by, which such performance or results will be achieved.
Important factors that could cause such differences include, but
are not limited to the Risk Factors and other information set forth
in the Company's Annual Report on Form 10-K filed on March 28, 2014, and in our other filings with the
U.S. Securities and Exchange Commission.
Contact:
Richard J. Sullivan
561-515-6163
info@gdsi.co
SOURCE Global Digital Solutions, Inc.