NewMediaWire
2020-03-09
Valley Cottage, NY - (NewMediaWire) - March 9, 2020 - CreditRiskMonitor (OTCBB: CRMZ)
announced that Lawrence Fensterstock, Senior Vice President and Chief Financial
Officer, has informed the Board of Directors of his intention to retire
effective June 30, 2020. To ensure an orderly transition, he will be resigning as
Chief Financial Officer as of close of business on March 31, 2020. At its
meeting held earlier today, the Board of Directors elected Steven Gargano as
Senior Vice President and Chief Financial Officer effective April 1st.
Mr. Gargano is an accomplished
professional with over 20 years of experience who has previously served as both
a Chief Financial Officer and a Risk Manager for such entities as the 1199
Pension and Benefit Funds, LUX Fund Technology & Solutions, Artivest
Advisors, US Bancorp Fund Services, Mariner Investment Group and Gabelli Asset
Management. He also worked, earlier in his career, at the international
accounting firms Deloitte & Touche and Arthur Andersen. Mr. Gargano is a
graduate of Cornell University and the Executive MBA program at Harvard
Business School.
Jerry Flum, CEO, said, “We’re sorry to see
Larry leave the Company. He was one of the founders of the CreditRiskMonitor
and has been a key employee for over 20 years. I personally will miss him and
wish him well in retirement. At the same time, I’m excited to welcome Steven
aboard and look forward to his fresh insights as we enter new markets.”
Overview
CreditRiskMonitor (http://www.crmz.com) is a
web-based publisher of financial information that helps corporate credit and
procurement professionals stay ahead of business financial risk quickly,
accurately and cost effectively. The service offers comprehensive commercial
credit reports and financial risk analysis covering public companies worldwide.
Unlike other commercial credit bureaus, such as Dun & Bradstreet,
CreditRiskMonitor’s primary expertise and focus is on financial analysis of
public debt and equity companies.
The Company also collects a significant amount
of trade receivable data on both public and a select group of private companies
every month, to help subscribers determine payment performance.
Over 35% of the Fortune 1000 plus over 1,000
other large companies worldwide depend on CreditRiskMonitor’s timely news
alerts and reports featuring detailed analyses of financial statements, ratio
analysis and trend reports, peer analyses, bond agency ratings, crowdsourcing
of risk professionals as well as the Company’s proprietary FRISK® and PAYCE®
scores.
Safe
Harbor Statement
Certain statements in this press release,
including statements prefaced by the words “anticipates”, “estimates”,
“believes”, “expects” or words of similar meaning, constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance, expectations or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements, including, among others, those
risks, uncertainties and factors referenced from time to time as “risk factors”
or otherwise in the Company’s Registration Statements or Securities and
Exchange Commission Reports. We disclaim any intention or obligation to revise
any forward-looking statements, whether as a result of new information, a future
event, or otherwise.
Jerry Flum
845-230-3030
ir@creditriskmonitor.com