VerifyMe Inc., together with its subsidiaries Trust Codes Global Limited and PeriShip Global LLC, on 14 July announced a strategic reorganization of its business, aimed at accelerating growth through leveraging its technology strengths, expanding its marketing capabilities and optimizing overhead expenses. The company will be organized into two segments: Authentication (incorporating Brand Protection Services and Trust Codes Global Limited) and Precision Logistics (PeriShip Global).
VerifyMe, Trust Codes Global and PeriShip Global provide brand owners time and temperature sensitive logistics, supply chain traceability and monitoring, authentication, anti-counterfeiting, and data-rich consumer engagement services,
Paul Ryan will be the executive vice-president, Authentication Segment. Ryan co-founded the Trust Codes platform (acquired by VerifyMe in March 2023) and developed it into a product cloud that today provides brand protection, consumer engagement, GS1 digital link and traceability. His 30 years of experience reaches across other global software and technology businesses; namely medical records processing, payments, and traceability sectors.
Curt Kole will be the executive vice-president, Precision Logistics Segment. Kole has 25 years of experience in many aspects of the logistics industry with extensive knowledge in the needs of customers whose products have specific time, temperature, or other criticality requirements. Kole has served as the executive vice-president, Global Sales and Strategy at PeriShip Global.
Nancy Meyers will become chief financial officer. Since joining VerifyMe in September 2021, Meyers has served as SVP Finance and Investor Relations, overseeing integration and business process improvements for acquisitions. With over 25 years in accounting and finance, she has held various roles of increasing responsibility, including financial reporting, analysis, acquisitions, and compliance with the Sarbanes-Oxley Act of 2002. She holds a BA in Economics and is a Charter Professional Accountant.
Adam Stedham, CEO of VerifyMe, said, “I am excited by the growth potential that exists across our two segments, and I believe we are well positioned to provide significant value to our customers and shareholders.” During the last 18 months VerifyMe has transformed its business capabilities through the addition of precision logistics services (PeriShip Global) and the vertical integration of the Trust Codes technology platform that reshapes its brand protection offerings. We expect to capitalize on this new foundation to expand our customer reach and accelerate our revenue growth.
As part of this strategic reorganization, Keith Goldstein, president and chief operating officer, will leave the Company, and his responsibilities will be absorbed into the CEO role, effective 31 July 2023. In addition, Margaret Gezerlis will step down as chief financial officer and will provide strategic consulting services to the company, effective 31 July 2023.
VerifyMe, together with its subsidiaries, Trust Codes Global and PeriShip Global, is a software driven logistics provider of high-touch, end-to-end logistics management. They provide logistics management from a sophisticated IT platform with proprietary databases, package and flight-tracking software, weather, and flight status monitoring systems, as well as dynamic dashboards with real-time visibility into shipment transit and last-mile events. In addition, VerifyMe and Trust Codes Global provide brand protection and consumer engagement solutions allowing brand owners to gather business intelligence.
