Market Overview

Synacor Appoints Tim Heasley as Chief Financial Officer

Share:

Succeeds Bill Stuart, Who is Retiring

Synacor, Inc. (NASDAQ:SYNC) today announced the appointment of Tim
Heasley as Chief Financial Officer effective today. He succeeds Bill
Stuart, who will be available to Synacor as a senior advisor. Heasley,
who joined Synacor as senior vice president of finance in May 2018, has
been chief financial officer of three mid-market companies during his
30-plus-year career as a financial executive. Based in Buffalo, he will
report to Synacor CEO Himesh Bhise.

"Tim's financial acumen and his experience as a public company chief
financial officer make him a strong executive to lead Synacor's
financial function," said Bhise. "During his time at Synacor, Tim has
already demonstrated the ability to lead our finance function. The board
and I look forward to working with him as we execute on our strategy to
drive shareholder value."

"On behalf of the board and the team at Synacor, I would also like to
extend our gratitude to Bill for his many contributions to Synacor
during the past seven years. He has played an important role in our
transformation. We wish him well in his retirement," concluded Bhise.

"I am excited to be working with the talented team at Synacor," said
Heasley. "I have been at Synacor for two months, and I am more excited
about Synacor's platforms, growth opportunities, and the value potential
of the business than when I started. I look forward to partnering with
Himesh and the team to execute on our growth strategy and deliver on our
financial goals."

Prior to joining Synacor, Heasley served as CFO of National Oak
Distributors, a national wholesale distributor. From 2015 to 2016, he
was CFO of Motus Integrated Technologies, a global manufacturer for the
automotive industry. He previously was CFO of Kaydon Corp. (NYSE:KDN)
and served in senior finance roles with Gibraltar Industries (NYSE: ROCK), MRC Industrial Group and SPS Technologies. Heasley has also
served in progressive financial management positions with a diverse
group of leading organizations, including Johnson Controls, TRW and the
Carborundum Company.

Heasley holds an MBA and a B.S. in Accounting from the State University
of New York at Buffalo. He has received several certifications including
Certified Public Accountant (CPA), Certified Management Accountant
(CMA), and Certified in Financial Management (CFM).

About Synacor

Synacor (NASDAQ:SYNC) is the trusted technology development,
multiplatform services and revenue partner for video, Internet and
communications providers, device manufacturers, governments and
enterprises. Synacor's mission is to enable its customers to better
engage with their consumers. Its customers use Synacor's technology
platforms and services to scale their businesses and extend their
subscriber relationships. Synacor delivers managed portals, advertising
solutions, email and collaboration platforms, and cloud-based identity
management. www.synacor.com

Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995

"Safe Harbor" statement under the Private Securities Litigation Reform
Act of 1995: This press release contains forward-looking statements
concerning Synacor's expected financial performance including, without
limitation, Tim Heasley's appointment as chief financial officer of
Synacor. The achievement or success of the matters covered by such
forward-looking statements involves risks, uncertainties and
assumptions. If any such risks or uncertainties materialize or if any of
the assumptions prove incorrect, Synacor's results could differ
materially from the results expressed or implied by the forward-looking
statements Synacor makes.

The risks and uncertainties referred to above include - but are not
limited to - risks associated with: execution of our plans and
strategies, including execution against our agreement with AT&T; the
pace and degree to which the AT&T portal can be monetized; the loss of a
significant customer; our ability to obtain new customers; our ability
to integrate the assets and personnel from acquisitions; expectations
regarding consumer taste and user adoption of applications and
solutions; developments in internet browser software and search
advertising technologies; general economic conditions; expectations
regarding Synacor's ability to timely expand the breadth of services and
products or introduction of new services and products; consolidation
within the cable and telecommunications industries; changes in the
competitive dynamics in the market for online search and digital
advertising; the risk that security measures could be breached and
unauthorized access to subscriber data could be obtained; potential
third party intellectual property infringement claims or other legal
claims against Synacor; and the price volatility of our common stock.

Further information on these and other factors that could affect
Synacor's financial results is included in filings it makes with the
Securities and Exchange Commission from time to time, including the
section entitled "Risk Factors" in Synacor's most recent Form 10-Q filed
with the SEC. These documents are available on the SEC Filings section
of the Investor Information section of Synacor's website at http://investor.synacor.com/.
All information provided in this release is available as of August 1,
2018, and Synacor undertakes no duty to update this information.

View Comments and Join the Discussion!