Corporate Officers – Upbeet Communications http://upbeetcommunications.com/ Fri, 05 Aug 2022 20:57:47 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://upbeetcommunications.com/wp-content/uploads/2021/07/icon-3.png Corporate Officers – Upbeet Communications http://upbeetcommunications.com/ 32 32 HYSTER-YALE MATERIALS HANDLING, INC. : Change of Directors or Principal Officers (Form 8-K) https://upbeetcommunications.com/hyster-yale-materials-handling-inc-change-of-directors-or-principal-officers-form-8-k/ Fri, 05 Aug 2022 20:43:15 +0000 https://upbeetcommunications.com/hyster-yale-materials-handling-inc-change-of-directors-or-principal-officers-form-8-k/ Article 5.02 Departure of directors or certain officers; Election of directors; Appointment of certain officers; Compensatory provisions of certain executives. On August 1, 2022, Hyster-Yale Materials Handling, Inc. (the “Company”) has appointed Scott A. MinderAge 49, as Senior Vice President, Chief Financial Officer and Treasurer (“Chief Financial Officer”) of the Company, effective as of August […]]]>

Article 5.02 Departure of directors or certain officers; Election of directors; Appointment of certain officers; Compensatory provisions of certain executives.

On August 1, 2022, Hyster-Yale Materials Handling, Inc. (the “Company”) has appointed Scott A. MinderAge 49, as Senior Vice President, Chief Financial Officer and Treasurer (“Chief Financial Officer”) of the Company, effective as of August 29, 2022 (the “Effective Date”), replacing Kenneth C. Schilling, who currently serves as Chief Financial Officer. Also on August 1, 2022, Mr Schilling notified the Company of its intention to withdraw from the Company, effective December 31, 2022. To ensure a smooth transition, Mr Schilling will remain with the company and assume a new role as senior vice president of the company, special financial advisor to the president on the effective date.

Mr Minder served as Vice President, Treasurer and Investor Relations of ATI Inc. (“ATI”), a global specialty materials and components company (from June 2018 to be presented), and as Vice President, Investor Relations of ATI (since
June 2017 at June 2018). Previously, he worked for PPG Industries, a global manufacturer of paints, coatings and specialty materials, in a variety of financial roles including Director, Investor Relations, Global Commercial Controller – Industrial Coatings, Packaging Coatings and Chief Financial Officer – automotive OEM coatings (from 2009 to 2017). ). Prior to joining PPG Industries, Mr Minder was chief financial officer of the automotive division and director of global quality at Penske Logistics. Mr Minder also had a distinguished 11-year career at General Motors which held several positions of increasing responsibility within the finance function, including roles in manufacturing, marketing and corporate sites, culminating in investor relations .

As part of his appointment as CFO, Mr Minder countersigned a letter of offer from the Company, effective August 1, 2022fixing his base salary at a rate of $430,000 per year. Mr Minder will also receive: a special bonus for the registration of $150,000 (paid in two equal installments on his first pay date and after he has served six months with the Company); a one-time grant with a value equal to 8,000 shares (plus cash in the amount of 35% of the total value of the grant) under the company’s additional long-term share plan ( fully vested, with 4,000 shares subject to transfer restrictions for five years and 4,000 shares being subject to transfer restrictions for 10 years, subject to certain limited exceptions); annual participation in the company’s annual incentive plan, with a target cash opportunity (which can be earned from 0% to 150%) equal to 50% of the median salary of his role (which is $477,000 for 2022) (for 2022, this price will be pro-rated based on At Mr. Minder’s date of hire and subject to a minimum payout of 100% of target); annual participation in the company’s long-term equity incentive plan, with a target opportunity (which can be earned from 0% to 200%) equal to 75% of the median salary of his role (which is
$477,000 for 2022) and payment made 65% in shares subject to transfer restrictions and 35% in cash (for 2022, this award will be subject to a minimum payout of 100% of the target); indirect cash allowance of $20,000 per year; normal resettlement benefits; and participation in certain standard employee health, welfare and retirement benefits. Mr Minder also agreed to customary confidentiality and other standard terms of employment for new hires.

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Change CEO says UnitedHealth deal won’t hurt rivals https://upbeetcommunications.com/change-ceo-says-unitedhealth-deal-wont-hurt-rivals/ Wed, 03 Aug 2022 02:28:00 +0000 https://upbeetcommunications.com/change-ceo-says-unitedhealth-deal-wont-hurt-rivals/ By Bryan Koenig (August 2, 2022, 10:28 p.m. EDT) – The CEO of Change Healthcare testified Tuesday as part of the US Department of Justice’s efforts to preserve the value of the healthcare technology company as a “independent” source of health insurance claims given for insurance rivals UnitedHealth Group, only to repeatedly assert that the […]]]>
By Bryan Koenig (August 2, 2022, 10:28 p.m. EDT) – The CEO of Change Healthcare testified Tuesday as part of the US Department of Justice’s efforts to preserve the value of the healthcare technology company as a “independent” source of health insurance claims given for insurance rivals UnitedHealth Group, only to repeatedly assert that the agency’s challenge to the proposed $13.8 billion merger has it all wrong.

On day two of the 12-day trial in DC federal court, Change Healthcare CEO Neil de Crescenzo proved a difficult witness for the Justice Department, continually pushing back against government characterizations of his activities, documents of its board of directors and its relationships.

These characterizations are crucial for the government…

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Research: Rating Action: Moody’s assigns Baa1 to USD senior unsecured notes offered by Johnson Electric https://upbeetcommunications.com/research-rating-action-moodys-assigns-baa1-to-usd-senior-unsecured-notes-offered-by-johnson-electric/ Mon, 01 Aug 2022 03:25:58 +0000 https://upbeetcommunications.com/research-rating-action-moodys-assigns-baa1-to-usd-senior-unsecured-notes-offered-by-johnson-electric/ Hong Kong, 01 Aug 2022 — Moody’s Investors Service has assigned a Baa1 rating to the USD senior unsecured notes to be issued by Johnson Electric Holdings Limited (Baa1 stable). The rating outlook is stable. Johnson Electric plans to use the proceeds from the Notes to refinance existing debt and for general corporate purposes. RATINGS […]]]>

Hong Kong, 01 Aug 2022 — Moody’s Investors Service has assigned a Baa1 rating to the USD senior unsecured notes to be issued by Johnson Electric Holdings Limited (Baa1 stable).

The rating outlook is stable.

Johnson Electric plans to use the proceeds from the Notes to refinance existing debt and for general corporate purposes.

RATINGS RATIONALE

“Johnson Electric’s Baa1 ratings reflect the company’s position as a global specialist in electromechanical motion systems with a long history, as well as its low customer concentration and geographic diversification. In particular, its global manufacturing footprint helps mitigate operational disruptions caused by the coronavirus outbreak,” said Stephanie Lau, vice president and chief credit officer at Moody’s.

The ratings also reflect the company’s low leverage and excellent liquidity, supported by its prudent financial strategy.

These strengths are offset by the company’s moderate scale and profitability, as well as its strong focus on the motion subsystems product segment.

The proposed notes will lengthen Johnson Electric’s debt maturity profile and have no material impact on its credit metrics, as the company will use the majority of the proceeds to refinance existing debt.

Moody’s expects Johnson Electric’s adjusted debt/EBITDA to grow to around 1.6x-2.0x over the next 12-18 months, from 1.4x in fiscal 2022 ended 31 March, reflecting the pre-funding of its outstanding debt, the majority of which will not mature until July 2024. It also reflects our expectations of modest revenue growth in fiscal 2023 in an uncertain macroeconomic environment. However, we expect its leverage measure to improve towards around 1.1x once the outstanding offshore bonds of $300 million are redeemed by July 2024.

Also, its current net debt will likely revert to net cash as its moderate capital spending will result in positive free cash flow. This level of financial leverage provides adequate protection against temporary shocks.

Despite a slow recovery in global automotive production, Johnson Electric’s revenues will continue to show moderate annual growth over the next two years, supported by its ability to outperform the market and introduce new products.

FACTORS THAT MAY LEAD TO AN IMPROVEMENT OR DEGRADATION OF THE RATING

The stable outlook primarily reflects Moody’s expectation that Johnson Electric will preserve the strength of its balance sheet over the next 1-2 years, despite a temporary weakening in profitability.

Although an upgrade is currently unlikely, Moody’s would consider upgrading the ratings over time if Johnson Electric demonstrates (1) significant growth in scale and greater business diversification through higher contributions high in its industrial segment; (2) an EBITA margin maintained above 14%, which would reflect product leadership; (3) low debt leverage, with a debt/EBITDA ratio below 1.5x; and (4) strong liquidity.

Moody’s could downgrade ratings if (1) Johnson Electric’s sales weaken significantly; (2) its adjusted EBITA margin remains below 8%-9%; (3) its liquidity becomes insufficient; or (4) its debt/EBITDA increases to more than 2.0x on a sustainable basis.

The main methodology used in this rating is Automotive Suppliers published in May 2021 and available on https://ratings.moodys.com/api/rmc-documents/72204. Otherwise, please see the Scoring Methodologies page on https://ratings.moodys.com for a copy of this methodology.

Johnson Electric Holdings Limited was established in 1959 and listed on the Hong Kong Stock Exchange in 1984. It is a global leader in motion systems, which includes motors, solenoids, switches, flexible interconnects, pumps, actuators and powder metal components. The company had revenue of $3.4 billion in fiscal 2022.

REGULATORY INFORMATION

For details on key rating assumptions and Moody’s sensitivity analysis, see the Methodological Assumptions and Sensitivity to Assumptions sections in the Disclosure Form. Moody’s rating symbols and definitions can be found at https://ratings.moodys.com/rating-definitions.

For ratings issued on a program, series, category/class of debt or security, this announcement provides certain regulatory information regarding each rating of a subsequently issued bond or note of the same series, category/class of debt, security or under a program for which ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a media provider, this announcement provides certain regulatory information relating to the credit rating action on the media provider and each particular credit rating action for securities whose credit ratings are derived from the support provider’s credit rating. For the provisional ratings, this press release provides certain regulatory information relating to the provisional rating assigned, and to a final rating that may be assigned after the final issuance of the debt, in each case where the structure and conditions of the transaction n have not changed prior to the final rating being assigned in a way that would have affected the rating. For more information, please see the issuer/transaction page of the respective issuer at https://ratings.moodys.com.

For all relevant securities or rated entities receiving direct credit support from the lead entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action , the associated regulatory information will be that of the guarantor entity. Exceptions to this approach exist for the following information, if applicable to the jurisdiction: Ancillary services, Information to be provided to the rated entity, Information to be provided by the rated entity.

The rating has been communicated to the rated entity or its designated agent(s) and issued without modification as a result of such communication.

This rating is requested. Please refer to Moody’s Policy for the Designation and Assignment of Unsolicited Credit Ratings available on its website. https://ratings.moodys.com.

Moody’s considers a rated entity or its agent(s) to participate when they have an overall relationship with Moody’s. Unless otherwise specified in the Regulatory Disclosures as a non-participating entity, the rated entity is a participant and the rated entity or its agent(s) generally provide information to Moody’s for the purposes of its rating process. Please refer to https://ratings.moodys.com for regulatory information for each credit rating action, displayed on the issuer/deal page, and for Moody’s policy on designation of nonparticipating rated entities, displayed on https://ratings.moodys.com.

The regulatory information contained in this press release applies to the credit rating and, if applicable, the outlook or rating revision relating thereto.

Moody’s general principles for assessing environmental, social and governance (ESG) risks in our credit analysis are available at https://ratings.moodys.com/documents/PBC_1288235.

The worldwide credit rating on this credit rating announcement has been issued by one of Moody’s affiliates outside the EU and is approved by Moody’s Deutschland GmbH, An der Welle 5, Frankfurt am Main. -le-Main 60322, Germany, in accordance with Article 4(3) of Regulation (EC) No 1060/2009 on credit rating agencies. Further information on the EU approval status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

The worldwide credit rating on this credit rating announcement has been issued by one of Moody’s affiliates outside the UK and is approved by Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London E14 5FA under the law applicable to credit rating agencies in the United Kingdom. . Further information on the UK endorsement status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

Please see https://ratings.moodys.com for any updates on changes to the lead rating analyst and Moody’s legal entity that issued the rating.

Please see the issuer/transaction page at https://ratings.moodys.com for additional regulatory information for each credit rating.

The first name below is the primary rating analyst for this credit rating and the last name below is the person primarily responsible for approving this credit rating.

Stephanie Lau
VP – Senior Credit Officer
Corporate Finance Group
Moody’s Investors Service Hong Kong Ltd.
24/F One Pacific Place
88 Queens Road
Hongkong,
China (Hong Kong SAR)
JOURNALISTS: 852 3758 1350
Customer Service: 852 3551 3077

Chris Park
Associate General Manager
Corporate Finance Group
JOURNALISTS: 852 3758 1350
Customer Service: 852 3551 3077

Clement Cheuk Yiu Wong
Associate General Manager
Corporate Finance Group
JOURNALISTS: 852 3758 1350
Customer Service: 852 3551 3077

Release Office:
Moody’s Investors Service Hong Kong Ltd.
24/F One Pacific Place
88 Queens Road
Hongkong,
China (Hong Kong SAR)
JOURNALISTS: 852 3758 1350
Customer Service: 852 3551 3077

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IQVIA HOLDINGS INC. : Change of Directors or Principal Officers (Form 8-K) https://upbeetcommunications.com/iqvia-holdings-inc-change-of-directors-or-principal-officers-form-8-k/ Fri, 29 Jul 2022 20:18:06 +0000 https://upbeetcommunications.com/iqvia-holdings-inc-change-of-directors-or-principal-officers-form-8-k/ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The meeting of Keriann Cherofsky as Senior Vice President, Corporate Controller (Chief Accounting Officer) of the company IQVIA Holdings Inc. (the “Company”) today announced the appointment of Keriann Cherofsky as Senior Vice-President, Corporate Controller and […]]]>
Item 5.02        Departure of Directors or Certain Officers; Election of Directors; Appointment
                 of Certain Officers; Compensatory Arrangements of Certain Officers.


The meeting of Keriann Cherofsky as Senior Vice President, Corporate Controller (Chief Accounting Officer) of the company

IQVIA Holdings Inc. (the “Company”) today announced the appointment of Keriann Cherofsky as Senior Vice-President, Corporate Controller and Chief Accountant of the Company, effective August 1, 2022. Mrs Cherofsky, 38, brings 16 years of relevant experience to his new role. Of March 2019 at
August 2022, she held the position of assistant controller of the company. Of November 2015 at March 2019She lead SECOND reporting as Executive Director of JPMorgan Chase & Co. Prior to that, from September 2006she has held various positions of increasing responsibility in PricewaterhouseCoopers LLP banking insurance and capital markets practice, most recently as a senior director.

According to his offer, Ms Cherofsky will receive an annual base salary of $335,000with an annual incentive target of 50% of his base salary, subject to the terms of the Company’s annual incentive plan. Mrs Cherofsky will also receive a long-term incentive award with an aggregate grant date fair value of $285,000composed of performance shares which will be acquired over the period of three years from January 1, 2022 through December 31, 2024stock appreciation rights that vest pro rata on each of the first three anniversaries following the grant date, and restricted stock units that vest pro rata on each of the first three anniversaries following the grant date. grant date, subject to the terms and conditions of the Company’s 2017 Incentive and Share Grant Plan. Ms Cherofsky will also continue to be eligible to participate in the Company’s standard benefit plans WE in accordance with their terms.

On July 25, 2022, Emmanuel KorakisSenior Vice President, Corporate Controller and Treasurer, has informed the Company of his intention to leave the Company to become Chief Financial Officer of Presidio, Inc. Mr. Korakis’ the last day will be
July 31, 2022.

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Research: Rating Action: Moody’s assigns Baa3 filing rating to Gatehouse Bank for the first time, stable outlook https://upbeetcommunications.com/research-rating-action-moodys-assigns-baa3-filing-rating-to-gatehouse-bank-for-the-first-time-stable-outlook/ Mon, 25 Jul 2022 12:45:50 +0000 https://upbeetcommunications.com/research-rating-action-moodys-assigns-baa3-filing-rating-to-gatehouse-bank-for-the-first-time-stable-outlook/ London, July 25, 2022 — Moody’s Investors Service (“Moody’s”) today assigned Gatehouse Bank Plc (Gatehouse Bank) an inaugural Baa3/Prime-3 senior deposit rating in local and foreign currencies. At the same time, Moody’s assigned Baa2/Prime-2 ratings, counterparty risk (CRR) ratings, Baa1(cr)/Prime-2(cr) counterparty risk (CR) ratings, baa3 basic credit (BCA) and a baa3 BCA rating adjusted to […]]]>

London, July 25, 2022 — Moody’s Investors Service (“Moody’s”) today assigned Gatehouse Bank Plc (Gatehouse Bank) an inaugural Baa3/Prime-3 senior deposit rating in local and foreign currencies. At the same time, Moody’s assigned Baa2/Prime-2 ratings, counterparty risk (CRR) ratings, Baa1(cr)/Prime-2(cr) counterparty risk (CR) ratings, baa3 basic credit (BCA) and a baa3 BCA rating adjusted to the bank. The outlook for long-term deposit ratings is stable.

A full list of affected ratings can be found at the end of this press release.

RATINGS RATIONALE

ALLOCATION OF MCR AND ADJUSTED MCR

Gatehouse Bank’s baa3 BCA reflects the bank’s role as a growing Islamic-compliant bank in the UK. Its diverse customer base in many countries provides access to mortgages beyond the highly competitive UK market, while its asset management services support growth in fee income, supplementing income from the retail secured loan portfolio and recently launched asset-backed financing. The bank has a strong capital base, providing a strong loss-absorbing cushion, which Moody’s expects to maintain through planned capital injections. BCA is further supported by the bank’s good liquidity profile, which benefits primarily from retail deposit funding with moderate reliance on wholesale funding, as well as a liquidity facility from its largest shareholder, Kuwait Investment. Authority (KIA).

At the same time, the BCA is limited by the bank’s exposure to house price fluctuations, mitigated to some extent by cautious underwriting. In addition, the bank’s semi-international footprint, sometimes in economies with weaker creditworthiness than the UK, increases risks to borrowers’ debt servicing capacity. As a result, Moody’s uses a Strong’s weighted average macroeconomic profile to assess the bank’s operating environments, one notch below the UK’s Strong+. Moody’s is also applying a downward qualitative adjustment under Corporate Behavior due to the changing business model and the bank’s relatively short track record. Additionally, the rating agency applies a second downward qualitative adjustment under the business diversification factor reflecting that the bank is primarily a mortgage lender, making its sources of income highly correlated to the UK property market.

Governance is very relevant for all banks. Moody’s has no particular governance issues with Gatehouse Bank. Nonetheless, corporate governance remains a key consideration in credit and requires ongoing monitoring, as is the case for all financial institutions.

Moody’s assigns an adjusted BCA in line with the bank’s BCA reflecting the absence of a majority shareholder, resulting in the lack of affiliate support incorporated into the ratings.

ASSIGNMENT OF BANK LONG-TERM DEPOSIT RATINGS, CRRS AND CR ASSESSMENTS

Gatehouse Bank is domiciled in the United Kingdom, a jurisdiction subject to the UK implementation of the European Union’s Bank Recovery and Resolution Directive (BRRD), which Moody’s considers an operational resolution regime. Accordingly, the Bank’s Baa3 long-term deposit ratings reflect the adjusted BCA of baa3 and the application of Moody’s Advanced Loss Given Default (LGF) analysis to its liabilities.

Like other deposit-funded retail banks, Moody’s uses its standard assumptions, including 10% of deposits considered junior. Given the low volume of the junior deposit base and subordinated debt subject to bail-in, LGF analysis indicates that the bank’s deposits are likely to suffer moderate losses in the event of default. This does not result in any increase in adjusted BCA for that instrument. Moody’s assumption of a low likelihood of government support for the bank’s creditors, as the bank is not a systemically important institution, does not result in a rating upgrade.

Gatehouse Bank’s CRRs and its CR ratings are respectively one notch and two notches above the baa3 adjusted BCA, reflecting the loss-absorbing cushion in the event of default provided by more junior instruments.

FACTORS THAT MAY LEAD TO IMPROVEMENT OR DEGRADATION OF RATINGS

The improvement in long-term deposit ratings could be driven by an improvement in the bank’s BCA or as a result of a significant increase in its sources of bailout funding. An upgrade of the bank’s BCA could be triggered by an improvement in asset risk and profitability, as well as the realization of a longer operating history, product offering and expanded clientele.

A deposit rating downgrade could be driven by a downgrade in the bank’s BCA or as a result of a significant decrease in its sources of bail-in-able funding, currently provided by its non-retail deposits. A deterioration in the bank’s BCA could also be driven by a significant deterioration in its solvency and liquidity.

LIST OF AFFECTED RATINGS

Issuer: Gatehouse Bank Plc

..Assignments:

….Long-term counterparty risk ratings, assigned Baa2

….Short-term counterparty risk ratings, assigned P-2

….Long-term bank deposits, allocated Baa3, outlook Stable

….Short-term bank deposits, allocated P-3

….Assessment of long-term counterparty risk, assigned Baa1(cr)

….Assessment of short-term counterparty risk, assigned P-2(cr)

….Basic credit rating, assigned baa3

….Adjusted base credit rating, assigned baa3

..Outlook action:

….Outlook assigned Stable

MAIN METHODOLOGY

The main methodology used in these ratings is the Methodology for Banks published in July 2021 and available on https://ratings.moodys.com/api/rmc-documents/71997. Otherwise, please see the Scoring Methodologies page on https://ratings.moodys.com for a copy of this methodology.

REGULATORY INFORMATION

For details on key rating assumptions and Moody’s sensitivity analysis, see the Methodological Assumptions and Sensitivity to Assumptions sections in the Disclosure Form. Moody’s rating symbols and definitions can be found at https://ratings.moodys.com/rating-definitions.

For ratings issued on a program, series, category/class of debt or security, this announcement provides certain regulatory information regarding each rating of a subsequently issued bond or note of the same series, category/class of debt, security or under a program for which ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a media provider, this announcement provides certain regulatory information relating to the credit rating action on the media provider and each particular credit rating action for securities whose credit ratings are derived from the support provider’s credit rating. For the provisional ratings, this press release provides certain regulatory information relating to the provisional rating assigned, and to a final rating that may be assigned after the final issuance of the debt, in each case where the structure and conditions of the transaction n have not changed prior to the final rating being assigned in a way that would have affected the rating. For more information, please see the issuer/transaction page of the respective issuer at https://ratings.moodys.com.

For all relevant securities or rated entities receiving direct credit support from the lead entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action , the associated regulatory information will be that of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to the jurisdiction: Ancillary services, Disclosures to the rated entity, Disclosures to be provided by the rated entity.

The ratings have been communicated to the rated entity or its designated agent(s) and issued without modification resulting from such communication.

These notes are solicited. Please refer to Moody’s Policy for the Designation and Assignment of Unsolicited Credit Ratings available on its website. https://ratings.moodys.com.

The regulatory information contained in this press release applies to the credit rating and, if applicable, the outlook or rating revision relating thereto.

Moody’s general principles for assessing environmental, social and governance (ESG) risks in our credit analysis are available at https://ratings.moodys.com/documents/PBC_1288235.

At least one ESG consideration was material to the announced credit rating metric(s) described above.

The worldwide credit rating on this credit rating announcement has been issued by one of Moody’s affiliates outside the EU and is approved by Moody’s Deutschland GmbH, An der Welle 5, Frankfurt am Main. -le-Main 60322, Germany, in accordance with Article 4(3) of Regulation (EC) No 1060/2009 on credit rating agencies. Further information on the EU approval status and the Moody’s office that issued the credit rating can be found at https://ratings.moodys.com.

Please see https://ratings.moodys.com for any updates on changes to the lead rating analyst and Moody’s legal entity that issued the rating.

Please see the issuer/transaction page at https://ratings.moodys.com for additional regulatory information for each credit rating.

Arif Bekiroglu
Vice President – Senior Analyst
Financial Institutions Group
Moody’s Investors Service Ltd.
A square of Canada
Canary Wharf
London, E14 5FA
UK
JOURNALISTS: 44 20 7772 5456
Customer service: 44 20 7772 5454

Laurie Mayer
Associate General Manager
Financial Institutions Group
JOURNALISTS: 44 20 7772 5456
Customer service: 44 20 7772 5454

Release Office:
Moody’s Investors Service Ltd.
A square of Canada
Canary Wharf
London, E14 5FA
UK
JOURNALISTS: 44 20 7772 5456
Customer service: 44 20 7772 5454

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DOCUSIGN INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates Officers and Directors of DocuSign, Inc. – DOCU https://upbeetcommunications.com/docusign-investigation-initiated-by-former-louisiana-attorney-general-kahn-swick-foti-llc-investigates-officers-and-directors-of-docusign-inc-docu/ Sat, 23 Jul 2022 02:50:00 +0000 https://upbeetcommunications.com/docusign-investigation-initiated-by-former-louisiana-attorney-general-kahn-swick-foti-llc-investigates-officers-and-directors-of-docusign-inc-docu/ NEW ORLEANS–(BUSINESS WIRE)–Former Louisiana Attorney General Charles C. Foti, Jr., Esq., partner at the law firm Kahn Swick & Foti, LLC (“KSF”), announces that KSF has opened an investigation into DocuSign, Inc. (NasdaqGS: DOCU). In December 2021, the company released its financial results for the third quarter of 2022, revealing a dramatic slowdown in billing […]]]>

NEW ORLEANS–(BUSINESS WIRE)–Former Louisiana Attorney General Charles C. Foti, Jr., Esq., partner at the law firm Kahn Swick & Foti, LLC (“KSF”), announces that KSF has opened an investigation into DocuSign, Inc. (NasdaqGS: DOCU).

In December 2021, the company released its financial results for the third quarter of 2022, revealing a dramatic slowdown in billing growth, constituting a 28% year-over-year decline, mainly due to lower asks as customers began returning to their offices and resumed in person. signature process, contrary to its earlier representations that pandemic-induced demand would be viable in the long term. Additionally, the company announced the departure of former chief financial officer Michael Sheridan, one of the key executives responsible for setting the company’s billing forecast at the start of the pandemic.

Subsequently, the Company and certain of its officers were sued in a securities class action lawsuit accusing them of failing to disclose material information during the Class Period in violation of federal securities laws. , which continue.

KSF’s investigation focuses on whether DocuSign’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that may help KSF in its investigation, or if you have been a long-time DocuSign stockholder and would like to discuss your legal rights, you may, at no obligation or cost to you, call toll-free 1-877-515-1850 or email Lewis Kahn, KSF Managing Partner (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-docu/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you can visit www.ksfcounsel.com.

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Southside Bancshares, Inc. named one of America’s Top 25 Banks https://upbeetcommunications.com/southside-bancshares-inc-named-one-of-americas-top-25-banks/ Wed, 20 Jul 2022 20:30:00 +0000 https://upbeetcommunications.com/southside-bancshares-inc-named-one-of-americas-top-25-banks/ TYLER, Texas, July 20 12, 2022 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (“Southside”) (NASDAQ: SBSI), the holding company of Southside Bank, has been named one of the “Top 25 Banks” in America by the bank’s chief . A recent study by RankingBanking analyzed the 300 largest publicly traded banks in the United States based on […]]]>

TYLER, Texas, July 20 12, 2022 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (“Southside”) (NASDAQ: SBSI), the holding company of Southside Bank, has been named one of the “Top 25 Banks” in America by the bank’s chief . A recent study by RankingBanking analyzed the 300 largest publicly traded banks in the United States based on 2021 performance using key financial measures such as profitability, capital adequacy, asset quality and yield total for shareholders. Based on its strong performance for 2021, Southside landed in the top 25 of the Banking Managers list, released in July 2022.

“We are proud to be recognized as one of the Top 25 Banks by Bank Manager and among a list of elite banks across the United States,” said Lee R. Gibson, President and Chief management of Southside Bancshares, Inc. “Throughout our 60-year history, we have maintained a strong commitment to delivering excellence to our customers, communities and shareholders – this recognition is a reflection of that commitment.

Bank Director is a leading information resource for directors and officers of financial institutions nationwide.

About Southside Bancshares, Inc.

Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $7.12 billion in assets as of March 31, 2022. Through its wholly owned subsidiary, Southside Bank , Southside currently operates 56 branches and a network of 74 ATMs. / ITM in East Texas, Southeast Texas and the Dallas/Fort Worth, Austin and Houston areas. Serving customers since 1960, Southside Bank is a community-focused financial institution that offers a full range of financial products and services to individuals and businesses. These products and services include consumer and commercial loans, mortgages, deposit accounts, safe deposit boxes, cash management, wealth management, trust services, brokerage services and a range of online and mobile.

To learn more about Southside Bancshares, Inc., please visit our Investor Relations website at https://investors.southside.com. Our Investor Relations site provides a detailed overview of our business, financial information and historical stock price data. To receive email notification of company news, events and stock market activity, please sign up on the Email Notification portion of the website. Questions or comments can be directed to Lindsey Bailes at (903) 630-7965, or lindsey.bailes@southside.com.

Forward-looking statements

Certain statements other than historical fact contained in this press release and in other written materials, documents and oral statements issued by or on behalf of the Company may be deemed “forward-looking statements” within the meaning and subject to them. safe harbor protections of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance and should not be relied upon as representing the views of management as of any future date. These statements may include words such as “expect”, “estimate”, “project”, “anticipate”, “appear”, “believe”, “could”, “should”, “may”, “could”. , ‘will’, ‘would’, ‘seek’, ‘intend’, ‘probability’, ‘risk’, ‘goal’, ‘target’, ‘objective’, ‘plan’, ‘potential’ and expressions similar. Forward-looking statements are statements regarding the beliefs, plans, expectations, objectives, goals, anticipations, assumptions, estimates, intentions and future performance of the Company and are subject to important risks and uncertainties. known and unknown, which could affect the actual results of the Company. differ materially from the results discussed in the forward-looking statements. For example, discussions about the effect of our expansion, the benefits of the share buyback plan, trends in asset quality, capital, liquidity, the company’s ability to sell non-performing assets, expense reductions, expected operational efficiencies and growth benefits and certain market risk disclosures, including the impact of interest rates, tax reform, inflation, impacts related to or resulting from Russia’s invasion of Ukraine and other economic factors are based on information currently available to management and depend on choices regarding key model features and assumptions and are subject to various limitations. By their nature, certain market risk information is only an estimate and could differ materially from what actually occurs in the future. Accordingly, our results could differ materially from those estimated. The most recent factor that could cause future results to differ materially from those anticipated by our forward-looking statements includes the continued impact of the COVID-19 pandemic and related variations on our business, financial condition, operations and our outlook, including our ability to continue our business operations in certain communities we serve, the duration of the pandemic and its continued effects on financial markets, a reduction in financial transactions and business activities resulting in lower deposits and reduced loan originations, our ability to manage liquidity in a rapidly changing and unpredictable market environment, supply chain disruptions, labor shortages and interest rate changes by the Federal Reserve and other government actions in response to the pandemic, including regulations or laws enacted to counter the effects of the COVID-19 pandemic on the economy.

Additional information regarding the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, under “Part I – Point 1”. Forward-Looking Information” and in other filings by the Company with the Securities and Exchange Commission. The Company disclaims any obligation to update any factors or publicly announce the outcome of any revisions to any of the forward-looking statements included herein to reflect future events or developments.

Contact: steven campbell
903.531.7158
steven.campbell@southside.com

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Law Firm Pomerantz Announces Class Action Filing https://upbeetcommunications.com/law-firm-pomerantz-announces-class-action-filing/ Mon, 18 Jul 2022 21:03:25 +0000 https://upbeetcommunications.com/law-firm-pomerantz-announces-class-action-filing/ NEW YORK, July 18 12, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against TG Therapeutics, Inc. (“TG Therapeutics” or the “Company”) (NASDAQ: TGTX) and certain of its officers. The class action, filed in the United States District Court for the Southern District of New York and registered […]]]>

NEW YORK, July 18 12, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against TG Therapeutics, Inc. (“TG Therapeutics” or the “Company”) (NASDAQ: TGTX) and certain of its officers. The class action, filed in the United States District Court for the Southern District of New York and registered as 22-cv-06106, is on behalf of a class consisting of all persons and entities other than defendants. who purchased or otherwise acquired TG Therapeutics securities between January 15, 2020 and May 31, 2022, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of federal securities and to seek remedies under sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its senior executives.

If you are a shareholder who purchased or otherwise acquired securities of TG Therapeutics during the class period, you have until September 16, 2022 to ask the court to name you as the lead plaintiff in the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those making inquiries by email are encouraged to include their mailing address, phone number and number of shares purchased.

[Click here for information about joining the class action]

TG Therapeutics, a commercial-stage biopharmaceutical company, is focused on acquiring, developing and commercializing novel treatments for B-cell malignancies and autoimmune diseases. The Company’s therapeutic product candidates include Ublituximab, an investigational genetically engineered monoclonal antibody for the treatment of B-cell non-Hodgkin’s lymphoma, chronic lymphocytic leukemia (“CLL”) and relapsing forms of multiple sclerosis; and Umbralisib, or UKONIQ, an oral PI3K-delta and CK1-epsilon inhibitor for the treatment of CLL, marginal zone lymphoma, and follicular lymphoma.

In January 2020, TG Therapeutics initiated an ongoing New Drug Application (“NDA”) submission to the U.S. Food and Drug Administration (“FDA”), seeking expedited approval of Umbralisib as a treatment for patients with previously treated marginal zone lymphoma (“MZL”) and follicular lymphoma (“FL”) (the “Umbralisib MZL/FL NDA”).

In December 2020, TG Therapeutics initiated a continuing Biologics License Application (“BLA”) submission to the FDA for Ublituximab in combination with Umbralisib (together, “U2”), as a treatment for patients with CLL (the “U2 BLA”).

In May 2021, TG Therapeutics submitted a Supplemental New Drug Application (“sNDA”) for Umbralisib to add an indication for CLL and small lymphocytic lymphoma (“SLL”) in combination with Ublituximab (the “sNDA U2”).

In September 2021, TG Therapeutics submitted a BLA to the FDA for Ublituximab as a treatment for patients with relapsing forms of multiple sclerosis (“RMS”) (the “Ublituximab RMS BLA”).

The Complaint alleges that throughout the Class Period, the Defendants made materially false and misleading statements regarding the company’s business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) clinical trials revealed significant concerns related to the benefit/risk ratio and overall survival data of Ublituximab and Umbralisib; (ii) therefore, it was unlikely that the Company would be able to obtain FDA approval for Umbralisib MZL/FL NDA, U2 BLA, U2 sNDA or Ublituximab RMS BLA in their current forms; (iii) as a result, the Company had significantly overestimated the clinical and/or commercial prospects of Ublituximab and Umbralisib; and (iv) as a result, the Company’s public statements were materially false and misleading at all material times.

On November 30, 2021, TG Therapeutics issued a press release “announcing[ing] the U.S. Food and Drug Administration (FDA) has informed the company that it plans to hold an Oncology Drug Advisory Committee (ODAC) meeting as part of its review of the Biologics License Application ( BLA)/Supplemental New Drug Application (sNDA) for the combination of ublituximab and UKONIQ® (umbralisib) (combination referred to as U2) for the treatment of adult patients with chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL). TG Therapeutics stated that “[t]The FDA has informed the company that potential issues and discussion topics for the ODAC include: the benefit-risk ratio of U2 combination in the treatment of CLL or LLS, and the benefit-risk ratio of UKONIQ in relapsed/refractory marginal zone lymphoma (MZL) or follicular lymphoma (FL). Additionally, as part of the benefit-risk analysis, the overall safety profile of the U2 regimen, including adverse events (serious and grade 3-4), discontinuations due to adverse events, and dose modifications , should be reconsidered. indicating that “[t]The FDA concern that prompted the ODAC meeting appears to stem from an early overall survival analysis of the UNITY-CLL trial.

On this news, TG ‘Therapeutics’ stock price fell $8.16 per share, or 34.93%, to close at $15.20 per share on November 30, 2021.

Then, on April 15, 2022, TG Therapeutics issued a press release “announcing[ing] that the Company has voluntarily withdrawn the pending Biologics License Application (BLA)/supplemental New Drug Application (sNDA) for the combination of ublituximab and UKONIQ® (umbralisib) (combination called U2) for the treatment of adult patients with chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL). The press release stated that “[t]The decision to withdraw was based on recently updated overall survival (OS) data from the Phase 3 UNITY-CLL trial which showed an increasing OS imbalance.

On this news, TG Therapeutics’ stock price fell $1.93 per share, or 21.81%, to close at $6.92 per share on April 18, 2022.

Then, on May 31, 2022, TG Therapeutics issued a press release announcing that the FDA had extended the prescription drug user fee law date for ublituximab until December 28, 2022 “to allow time to review a submission provided by the company in response to an FDA request.” request for information, which the FDA considered a major amendment.

On this news, TG Therapeutics’ stock price fell $0.75 per share, or 14.51%, to close at $4.42 per share on May 31, 2022.

Finally, on June 1, 2022, the FDA announced that due to safety concerns, it had withdrawn its approval for Umbralisib for the treatment of MZL and FL. Specifically, the FDA provided that “[u]updated results from the UNITY-CLL clinical trial continued to show an increased risk of death in patients receiving [UKONIQ]. Accordingly, we have determined the risks of treatment with [UKONIQ] outweigh its benefits.

On this news, TG “Therapeutics” stock price fell $0.51 per share, or 11.53%, to close at $3.91 per share on June 1, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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More women join the list of CEOs https://upbeetcommunications.com/more-women-join-the-list-of-ceos/ Sat, 16 Jul 2022 09:08:16 +0000 https://upbeetcommunications.com/more-women-join-the-list-of-ceos/ Jenifer Bamuturaki, CEO of Uganda Airlines Jenifer Bamuturaki is the new chief executive of Uganda Airlines, having been appointed on July 5. Prior to her appointment, she served as temporary CEO for more than a year following the airline’s suspension and subsequent dismissal of former CEO Cornwell Muleya over allegations of corruption and mismanagement. Bamutuaki’s […]]]>

Jenifer Bamuturaki, CEO of Uganda Airlines

Jenifer Bamuturaki is the new chief executive of Uganda Airlines, having been appointed on July 5. Prior to her appointment, she served as temporary CEO for more than a year following the airline’s suspension and subsequent dismissal of former CEO Cornwell Muleya over allegations of corruption and mismanagement. Bamutuaki’s appointment was cleared by President Museveni on the grounds that she was the best candidate to run the airline. She has her work cut out for her in making Uganda Airlines the best and most reliable national carrier in the region, years after her reinstatement. His experience which spans 30 years is something to rely on. She has seen and done it all in the airline, hospitality and travel industries, including a seven-year stint with Air Uganda in addition to working as Country Manager for East Africa Airlines. It is also an opportunity for her to bounce back from being kicked out of the airline in October 2019 before being named interim CEO in April 2021. Bamuturaki was also applauded for being behind the inclusion of new routes such as Guangzhou, Dubai and London, among others that the national carrier will take.

Irene Kaggwa Ssewankambo, CEO, Uganda Communications Commission

Irene Kaggwa Ssewankambo, CEO, Uganda Communications Commission

Irene Kaggwa has extensive experience in the ICT sector through policy development, research, regulation and implementation in various aspects including internet development, licensing, universal access, quality of service, the management of numbering resources and the promotion of research and innovation. An engineer by profession, Sewankambo was Director of Engineering and Communications Infrastructure at the Uganda Communications Commission, before becoming CEO. She holds an MSc in Communication Systems and Signal Processing from the University of Bristol in the UK and an MSc in Economic Management and Policy from the University of Strathclyde in the UK. His bachelor’s degree is in Electrical Engineering from Makerere University. Prior to this appointment, she was also responsible for the research and development unit.

Mercy K. Kainobwisho, Registrar General, URSB

Mercy K. Kainobwisho, Registrar General, URSB

Kainobwisho is a lawyer, business administrator and business executive, who has served as Registrar General and Executive Director of Uganda Registrar Services Bureau (Ursb) since her appointment in December 2020. Prior to taking on this role, she held the post of director. of intellectual property at the Ursb. She is very learned; with a Bachelor of Laws from Makerere University, a Diploma in Legal Practice from the Law Development Center and obtained a Master of Laws degree from the University of Turin, Italy. She also holds a Masters in Business Administration from Makerere University Business School. With Kainobwisho at the head of the Ursb, many innovations have emerged. The Intellectual Property (IP) and online filing system has been set up to enable public record of remote IP protection on the Internet. The tool is used to receive intellectual property requests for trademarks. The system allows intellectual property rights holders to access the Internet and file applications from anywhere. Her journey to the top saw her as a legal assistant at Shonubi Musoke & Company Advocates, state attorney at the Ministry of Justice and Constitutional Affairs, intellectual property officer at the Ursb, director, registration of enterprises and director of intellectual property at the Ursb.

Judy Rugasira Kyanda, MD-Knight Frank Limited

Judy Rugasira Kyanda, MD-Knight Frank Limited

Rugasira is a businesswoman, entrepreneur and real estate expert. She is the Managing Director of Knight Frank Uganda Limited. Knight Frank is a real estate agency and consulting firm. Rugasira is one of those rare women who over the years have managed to shape the real estate industry. She saw herself as a physiotherapist or a lawyer, but her father guided her into land management as an expert in appraisal. After being introduced to one of her father’s friends, Steven Bamwanga, who at the time was a parliamentarian, land assessor and surveyor, Rugasira was inspired and pursued a career, but first applied for the University of Reading, UK, which was and still is the most respectable university for land management globally. She graduated with honors in land management. She then joined Mason, Owen and partners, a firm of Chartered Surveyors in Mayfair London. She returned to Uganda and worked with Bamwanga and then returned to continue her masters studies. After four years of working in Uganda, she was recruited by Knight Frank to be their Managing Director in Uganda and what she has been ever since. She was the Vice President of the Association of Real Estates Agents (Area) Uganda, between 2012 and 2014. She was also a Director of the Africa Real Estates Society (AFRES) and a member of Enterprise Group Uganda. In 2017, she was appointed president of the College of Surveyors.

Sylvia Mulinge, CEO -MTN Uganda

Sylvia Mulinge, CEO -MTN Uganda

MTN Uganda has announced that Sylvia Mulinge will be its final chief executive, replacing Wim Vanhelleputte who had been in charge since July 2016. Mulinge was previously director of consumer affairs at Safaricom, an organization she joined in 2006. She assumed various roles such as General Manager of Corporate Business Unit, Manager of Consumer Business Unit, Head of Retail and Head of Sales. In 2018, Mulinge was appointed head of Vodacom Tanzania, but did not accept the post after the Tanzanian government refused to issue her the work permit. Mulinge is credited for Safaricom’s hard work towards achieving the mission of transforming customers’ lives using technology as a catalyst for positive change. She is also known for contributing to Safaricom’s strong market position based on sales, earnings and market value. She was also instrumental in establishing the enterprise and fixed corporate data silos. She has been described as an impact-driven business leader with an impeccable record whose experience will benefit MTN as the telecom company continues to seek a unique position in digital solutions for the continent. Charles Mbire, chairman of the board of MTN, is convinced that the addition of Mulinge is a major boost.

Anne Juuko, CEO, Stanbic Bank Uganda

Anne Juuko, CEO, Stanbic BankUganda

On March 1, 2020, Anne Juuko became the first woman to lead Uganda’s largest bank. Since then, she has won various accolades, including the Ugandan banking sector’s “Best Female CEO” award for the year 2021, nominated by London-based Global Brands magazine. It has also won Senior Dealer of the Year for six consecutive years. Juuko has extensive experience in the financial industry with regional and global expertise in banking for 22 years and was part of Standard Bank Group for nine years before landing the CEO role. She joined Stanbic Bank Uganda as Head of Global Markets and was later appointed Head of Corporate and Investment Banking at Standard Bank, Namibia. She started her career in banking in 2001 and held various positions before being appointed Vice President, Head of Fixed Income, Currencies and Commodities at Citibank Uganda Limited. She was then seconded to Citibank Kenya as Vice President, Client Sales and Derivatives Marketing. She then joined Stanbic Bank in 2012. She also holds a Bachelor of Commerce from Makerere University and a Masters in Strategic Planning from Herriot Watt Business School in Edinburgh, Scotland. Her career is admirable in which she fulfilled all the roles assigned to her while exhibiting exemplary performance and exceptional leadership.

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Rubicon announces the appointment of Paula Henderson to its https://upbeetcommunications.com/rubicon-announces-the-appointment-of-paula-henderson-to-its/ Thu, 14 Jul 2022 12:45:00 +0000 https://upbeetcommunications.com/rubicon-announces-the-appointment-of-paula-henderson-to-its/ Lexington, Kentucky, July 14, 2022 (GLOBE NEWSWIRE) — Rubicon Technologies, LLC (“Rubicon” or the “Company”), a leading digital waste and recycling marketplace and provider of innovative software solutions for businesses and governments around the world, today announced the appointment of Paula Henderson, Executive Vice President and Chief Sales Officer, Americas, at SASto its board of […]]]>

Lexington, Kentucky, July 14, 2022 (GLOBE NEWSWIRE) — Rubicon Technologies, LLC (“Rubicon” or the “Company”), a leading digital waste and recycling marketplace and provider of innovative software solutions for businesses and governments around the world, today announced the appointment of Paula Henderson, Executive Vice President and Chief Sales Officer, Americas, at SASto its board of directors (the “Board”) upon the closing of the Company’s previously announced business combination with Founder SPAC (Nasdaq: FOUN) (“Founder”).

“I am delighted that Paula Henderson has been nominated for election to Rubicon’s Board of Directors post-merger,” said Nate Morris, President and CEO of Rubicon. “Paula has a well-deserved reputation as a tireless leader, strategist and executive. She has been a driving force at SAS, helping the company grow year after year. I know she will bring the same dedication and leadership to our Board of Directors.

As Executive Vice President and Chief Sales Officer for the Americas at SAS, Ms. Henderson leads dedicated teams in government, financial services, healthcare, life sciences, consumer packaged goods, manufacturing, energy and telecommunications. SAS helps customers leverage the power of data and analytics to improve their operations, better serve their customers and address humanitarian issues related to natural disasters, opioid abuse, suicide prevention and even more.

“Rubicon and SAS share a commitment to creating a cleaner, healthier and safer world through technology and innovation,” said Ms. Henderson. “I look forward to working with Nate and the other board members to explore new opportunities to reduce waste in a way that not only benefits the planet, but also has business value.”

Outside of SAS, Ms. Henderson serves on the board of directors of the North Carolina State Chamber Roundtable and as president of the Roadside Alliance, a non-profit organization that raises funds for highway beautification. She also serves on the boards of North Carolina State University College of Science, the Institute for Emerging Issues, Prevent Child Abuse North Carolina, and First Flight Venture Center, Inc. Ms. Henderson received her MBA from Meredith College and his BS from North Carolina State University.

About Rubicon

Rubicon is a digital marketplace for waste and recycling, and a provider of innovative software solutions for businesses and governments around the world. By creating a new industry standard by using technology to drive environmental innovation, the company is helping transform businesses into more sustainable businesses and neighborhoods into greener, smarter places to live and work. Rubicon’s mission is to end waste. It helps its partners find economic value in their waste streams and confidently achieve their sustainability goals. Learn more at Rubicon.com.

Rubicon previously announced an agreement for a business combination with Founder, which is expected to result in Rubicon becoming a public company listed on the New York Stock Exchange (“NYSE”) under the new symbol “RBT” early in the third quarter. of 2022, subject to customary closing conditions.

About the Founder SPAC

Founder is a blank check corporation whose business purpose is to effect a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or several companies. While Founder is not limited to any particular industry or geographic region, the company focuses on companies in the technology sector, with a particular focus on the topic of digital transformation. The founder is led by CEO Osman Ahmed, CFO Manpreet Singh and Executive Chairman Hassan Ahmed. The company’s independent directors include Jack Selby, Steve Papa, Allen Salmasi and Rob Theis. Sponsor and advisor, Nikhil Kalghatgi, leads the company’s advisory board.

Important business combination information and where to find it

Founder Shareholders and other interested persons are advised to read carefully and in their entirety the preliminary proxy statement/consent solicitation statement/prospectus included in the registration statement on Form S-4 (the “Statement Registration Document”) filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 1, 2022 (including any amendments or supplements thereto) and, when available, the Proxy Circular Definitive Statement/Consent Solicitation Statement/Prospectus, and other documents filed with the SEC, as such documents will contain important information about the Founder, Rubicon and the other parties to the Merger Agreement (as defined in the registration statement) and the business combination (as defined in the registration statement). Following the Effectiveness Statement of the Registration Statement, the Proxy Statement/Consent Solicitation Statement/Final Prospectus will be mailed to Founder Shareholders on a record date to be determined to vote on the Combination businesses and other matters described in the registration statement. Founding shareholders may also obtain copies of the proxy statement/consent statement/prospectus and other documents filed with the SEC which will be incorporated by reference into the consent/prospectus, free of charge, when available, at the SEC’s website at sec.gov, or by directing a request to: Founder SPAC, 11752 Lake Potomac Drive, Potomac, MD, 20854, at attention of the CFO, (240) 418-2649.

Participants in the solicitation

The Founder and its directors and officers may be considered participants in the solicitation of proxies from the shareholders of the Founder with respect to the business combination. A list of the names of such directors and officers and a description of their interests in the business combination are set forth in the registration statement.

Rubicon and its directors and officers may also be considered participants in the solicitation of proxies from Founder shareholders in connection with the business combination. A list of the names of such directors and officers and information regarding their interests in the business combination are set forth in the registration statement.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The actual results of Founder and Rubicon may differ from their expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “expect”, “anticipate”, “intend”, “plan”, “may”, “will” , “could”, “should”, “believe”, “predict”, “potential”, “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, the Founder’s and Rubicon’s expectations regarding the future performance and anticipated financial impacts of the business combination, the satisfaction of the closing conditions of the business combination and the timing the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, including factors beyond Founder’s and Rubicon’s control that are difficult to predict. Factors that could cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be brought against Founder and Rubicon following the announcement of the merger agreement and the transactions that are considered there; (2) the inability to complete the Business Combination, including due to the inability to obtain Founder’s shareholder approval, approvals or other determinations of certain regulatory authorities, or other closing conditions in the Merger Agreement; (3) the occurrence of any event, change or other circumstance which could give rise to the termination of the Merger Agreement or which could otherwise prevent the closing of the transactions contemplated therein; (4) the inability to obtain or maintain the listing of the shares of the combined company on the New York Stock Exchange following the Business Combination; (5) the risk that the Business Combination will disrupt ongoing plans and operations following the announcement and consummation of the Business Combination; (6) the ability to recognize the expected benefits of the Business Combination, which may be affected by, among other things, competition and the ability of the combined company to grow and manage the growth profitably and to retain its key employees ; (7) costs relating to the Business Combination; (8) changes in applicable laws or regulations; (9) the possibility that Rubicon or the combined company will be adversely affected by other economic, business and/or competitive factors; (10) the combined company’s ability to raise financing in the future and to meet long-term debt covenants; (11) the impact of COVID-19 on Rubicon’s business and/or the ability of the parties to complete the Business Combination; and (12) other risks and uncertainties set forth from time to time in the registration statement and other documents filed or to be filed by the Founder with the SEC.

The Founder cautions that the above list of factors is not exclusive. Although the Founder believes that the expectations reflected in these forward-looking statements are reasonable, nothing in this press release should be taken as a representation by anyone that the forward-looking statements or projections set forth herein will be realized or that any of the intended results of such forward-looking statements or projections will be realized. There may be additional risks that Founder and Rubicon are not currently aware of or that they currently believe to be immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. The Founder cautions readers not to place undue reliance on forward-looking statements, which speak only as of the date made. Neither Founder nor Rubicon undertakes to update these forward-looking statements, except as otherwise required by law.

No offer or solicitation

This press release does not constitute a solicitation of proxy, consent or authorization with respect to any security or with respect to the business combination. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities may be made except by means of a prospectus satisfying the requirements of Article 10 of the Securities Law.

        
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