ZAGG CEO Steps Down
Board Appoints Randy Hales as Interim CEO
ZAGG Board Appoints Cheryl Larabee as Chairman of the Board of
Company Reaffirms 2012 Guidance
SALT LAKE CITY--(BUSINESS WIRE)--
ZAGG Inc. (NASDAQ:ZAGG), a leading mobile device accessories and
technology company, announced today that Robert G. Pedersen II has
stepped down as CEO and Chairman. ZAGG President and COO Randall Hales
has been appointed interim CEO by the Board of Directors, and Cheryl
Larabee has been appointed to serve as Chairperson of the Board of
Directors, effective immediately.
"We thank our founder, Robert Pedersen, for his contribution in building
ZAGG Inc. into a leading company in the mobile device accessories market
and we wish him well in his future endeavors," said Cheryl Larabee, ZAGG
Chairman. "Since joining ZAGG, Randy has built strong relationships
across our employee and customer base, and has streamlined the company's
focus and improved operational structure."
"I am committed to executing on the business strategy we have put in
place at ZAGG. We have an excellent team in place that will continue to
advance our objectives of building the preferred brand, introducing
creative product solutions and extending both through targeted global
distribution," said Mr. Hales. "I see ZAGG as a company that is poised
to enter its next phase of development and growth. I have enjoyed my
time working with Robert and wish him success in his next venture."
The board of directors will conduct a search for a new permanent CEO.
Mr. Hales will retain his board seat and Ms. Larabee remains Chair of
the Audit Committee, as well as member of the Nominating and Governance
Committee, and the Compensation Committee. No further changes in
leadership are expected.
The Company reiterates its full year guidance for 2012 revenue of $256
million and Adjusted EBITDA of $56 million - $61 million.
For more information about ZAGG and its product offerings, visit ZAGG.com.
About ZAGG Inc:
ZAGG Inc, based in Salt Lake City, UT, with offices in Logan, UT and
Shannon, Ireland, prides itself on offering premium quality and superior
service. ZAGG is a market leader in innovative mobile device accessories
that protect, personalize, and enhance the mobile experience. The
company designs, produces, and distributes branded screen protection
under the invisibleSHIELD® brand, keyboards, keyboard cases, earbuds,
mobile power solutions and device cleaning accessories under the family
of ZAGG® brands. In addition, the company designs, produces and
distributes cases, earbuds and headphones under the iFrogz™ brands in
the value-priced lifestyle sector. The company's products are sold
worldwide in leading consumer and electronics retailers, wireless
retailers and their affiliates, and through the ZAGG website. For more
information, visit ZAGG.com.
Genesis Select Corp.
Amber Roberts, 212-302-5964
Nathan Nelson, 801-263-0699 ext. 107
Source: ZAGG Inc.
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