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Antonio Bonchristiano and Rodrigo Boscolo Appointed to IZEA Worldwide Board of Directors
ORLANDO, Fla., Sept. 10, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (Nasdaq: IZEA), a leading provider of technology, data, and services for the Creator Economy, today announced a partnership with GP Investments, Ltd. and a series of value creation actions.
Antonio Bonchristiano and Rodrigo Boscolo of GP Investments, a global investment firm with flexible, long-term capital, are joining IZEA’s Board of Directors. These appointments reflect GP’s substantial IZEA shareholding and its track record in creating value across a range of enterprises. Regarding the partnership with GP Investments, Patrick Venetucci, CEO of IZEA said, “IZEA will benefit from Antonio and Rodrigo’s experience and success in high growth, tech and tech-enabled businesses like ours. We welcome them and their ideas.” Antonio said, “We look forward to leveraging our strategic, capital allocation and M&A experiences with the board for the good of all stakeholders.”
Bonchristiano is the CEO and a board member of GP Investments, which he joined in 1993. Previously, he worked in London and New York for Solomon Brothers and Johnston Associates. Over the last three decades, he has served as a director on several boards, including AMBEV, Rimini Street, G2D Investments, BR Properties, among others. Boscolo is a Managing Director and the CFO at GP Investments since 2018. Before, he was a consultant at The Boston Consulting Group. Boscolo has also served on numerous boards of both private and public companies across geographies, including G2D Investments, Spice Private Equity, LEON Restaurants, Magnesita, Sascar, and Allis.
Additionally, IZEA’s Chairman role is being separated from the CEO role to strengthen governance and enable the IZEA CEO to focus on the business. Lindsay Gardner, Independent Director of IZEA’s Board, and long-time technology, media and telecom executive, is being appointed to Chairman of the Board.
IZEA’s share buyback program is expanding from $5 million to $10 million as a demonstration of the Board’s confidence in the company’s ability to create more value.
A Strategy & Capital Allocation Committee is being formed to evaluate strategic options, sources and uses of capital, capital structure, and cash management.
The company is committing resources to M&A to capitalize on opportunities as they arise in the marketplace. The company reaffirms the previously stated commitment to pursue profitable growth.
The IZEA Board of Directors will be implementing these value creation actions effective immediately.