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SAN DIEGO, January 16, 2025--(BUSINESS WIRE)--Genasys Inc. (NASDAQ: GNSS), the global leader in Protective Communications, today announced that pursuant to a recently signed cooperation agreement, R. Rimmy Malhotra ("Rimmy") has been appointed to the Board of Directors, effective January 15, 2025. Mr. Malhotra brings decades of investor and corporate oversight experience.
Richard Osgood, Chairman of the Board, said, "We welcome Rimmy to the board. Rimmy’s vast experience as a seasoned board advisor will serve us well as we continue to execute on our strategic priorities and enhance value for shareholders. We are confident that his perspectives will add value in the boardroom and in the operational oversight of the company."
Richard Danforth, Chief Executive Officer of Genasys, added, "Over the past several years of his ownership in Genasys, Rimmy has been a consistent voice of reason and counsel. I look forward to working more closely with Rimmy as we execute against our growth strategy."
"As a longstanding shareholder, I look forward to working with management and my fellow Board members to help guide the company’s strategy and future capital allocation decisions. Genasys’ future is bright, and I am pleased to play a role," said Mr. Malhotra.
With the addition of Mr. Malhotra to the Board of Directors, the board consists of seven members, six of whom are independent. Mr. Malhotra will stand for election at Genasys’ 2025 Annual Meeting of Shareholders as part of the company’s recommended slate of director nominees.
About R. Rimmy Malhotra
R. Rimmy Malhotra ("Rimmy") serves as the Managing Member and Portfolio Manager for the Nicoya Fund LP, a private investment partnership. Previously, he served as portfolio manager of the Gratio Values Fund, a mutual fund registered under the Investment Act of 1940. He currently serves on the boards of HireQuest Inc (Nasdaq: HQI), FRMO Corporation (OTC: FRMO) and Optex System (Nasdaq: OPXS). He earned an MBA in Finance from The Wharton School and a Master’s degree in International Relations from the School of Arts & Sciences, both at the University of Pennsylvania where he is a Lauder Fellow. Mr. Malhotra holds a Bachelor of Science in Computer Science and Bachelor of Arts in Economics from Johns Hopkins University.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications. Incorporating the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as the Company’s Long Range Acoustic Devices (LRAD®), the Genasys Protect platform is designed around one premise: ensuring organizations and public safety agencies are "Ready when it matters™." Protecting people and saving lives for over 40 years, Genasys covers more than 155 million people in all 50 states and in over 100 countries worldwide. For more information, visit genasys.com.