EATONTOWN, N.J., July 03, 2019 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ: WSTG) (the "Company") today announced that Dale Foster has been promoted to the role of President of Lifeboat effective July 1, 2019.
Dale Foster previously served as the Company's Executive Vice President, having joined Wayside Technology Group in January of 2018 with over 20 years of industry and channel experience. Prior to joining the Company, Mr. Foster was with Promark Technology since 1988 and served as President and CEO since 1997. Mr. Foster held various sales and product manager positions leading up to 1997 and was responsible for the strategic direction of the company along with overseeing Promark's national sales force. With the acquisition of Promark by Ingram Micro in 2012, Mr. Foster became Executive Director and General Manager overseeing the growth strategies of the Promark emerging vendor division.
"Dale has a proven record of managerial success. He will lead the Lifeboat business, developing new strategies and operational tactics to drive our business forward. The Board has reviewed and approved his plans. We look forward to positive changes as we embark on the next leg of our journey," said Jeffrey Geygan, Chairman of the Board.
Mr. Foster will have managerial oversight for all of the Company's divisions and will report directly to the Board.
"Lifeboat is positioned to become the leading technology distributor for emerging vendors. Our vendors need a focused distribution partner to deliver their technology products to the channel. I’m confident that our team will drive incremental success toward that goal," added Mr. Foster.
About Wayside Technology Group, Inc.
Wayside Technology Group, Inc. (NASDAQ: WSTG) is an IT channel company providing innovative sales and distribution solutions to technology vendors, resellers and system integrators since 1982. Wayside operates Lifeboat Distribution, a value-added distributor for virtualization/cloud computing, security, application and network infrastructure, business continuity/disaster recovery, database infrastructure and management, application lifecycle management, science/engineering, and other technically sophisticated products. The company helps vendors recruit and build multinational solution provider networks, power their networks, and drive incremental sales revenues that complement existing sales channels. Lifeboat Distribution services thousands of solution providers, VARs, systems integrators, corporate resellers, and consultants worldwide, helping them power a rich opportunity stream and build profitable product and service businesses. The Company also offers specialty solutions to end user customers through its TechXtend business.
Additional information can be found by visiting www.waysidetechnology.com
This press release and oral statements made from time to time by representatives of the Company contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, our current expectations about the Company's future results and financial condition, revenues, employee reductions, margins, expenses and earnings and are indicated by words or phrases such as "anticipate," "estimate," "expect," "project," "we believe" and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results to materially differ include, among others: the loss of key personnel, or other changes in our executive and senior management team or to our operating structure, and our ability to effectively transfer knowledge during periods of transition; our ability to successfully implement our long-term growth strategy, the continued acceptance of the Company's distribution channel by vendors and customers, the timely availability and acceptance of new products, product mix, market conditions, contribution of key vendor relationships and support programs, as well as factors that affect the software industry in general and other factors. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in our filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company undertakes no obligation to update or revise these forward-looking statements.
Investor Relations Contact:
Michael Vesey, Vice President and Chief Financial Officer
Wayside Technology Group, Inc.
(732) 389-0932
michael.vesey@waysidetechnology.com