OMAHA, Neb.--(BUSINESS WIRE)--Ballantyne Strong, Inc. (NYSE MKT: BTN), a diversified provider of digital technology services, products and solutions, today announced that Kyle Cerminara has been appointed to its board of directors, effective February 20, 2015. Mr. Cerminara will replace Mark D. Hasebroock, who has chosen to retire from the board of directors after having served as a director since 2003. Mr. Cerminara will stand for re-election to the board of directors at the 2015 annual meeting of shareholders.
“We are very pleased to welcome Kyle Cerminara to the board of directors,” said Samuel C. Freitag, chairman of the board of directors of Ballantyne Strong. “Kyle manages a fund that is one of Ballantyne Strong’s largest shareholders and he has demonstrated a great passion for helping to guide our efforts to maximize shareholder value. Kyle has a highly distinguished record as an investment manager and we believe that his experience will be a valuable addition to the board as we continue to execute on our strategic vision for Ballantyne Strong.”
“We would also like to thank Mark Hasebroock for his many years of valuable service as a member of our board of directors,” said Mr. Freitag.
Mr. Cerminara, 37, is CEO, Co-Founder & Partner of Fundamental Global Investors, an SEC registered investment advisor that manages equity and fixed income hedge funds that he co-founded with Joe Moglia, the chairman of TD Ameritrade, and Lewis Johnson, a former colleague at T. Rowe Price. Mr. Cerminara is also Co-Chief Investment Officer of Capital Wealth Advisors, a wealth advisor and multi-family office affiliated with Fundamental Global Investors that was co-founded by Mr. Cerminara’s partners, Bill Beynon and Blaine Ferguson. Mr. Cerminara is also on the board of directors of blueharbor bank, a publicly traded community bank in Mooresville, NC. Prior to co-founding Fundamental Global Investors and partnering with Capital Wealth Advisors, Mr. Cerminara was a Portfolio Manager at Sigma Capital Management from 2011-2012. Mr. Cerminara was a Director and Sector Head of the Financials Industry at Highside Capital Management from 2009-2011. Previously, Mr. Cerminara was a Portfolio Manager and Director at CR Intrinsic Investors from 2007-2009. Before joining CR Intrinsic Investors, Mr. Cerminara was a Vice President, Associate Portfolio Manager and Analyst at T. Rowe Price from 2001-2007 and an Analyst at Legg Mason from 2000-2001.
Mr. Cerminara received an MBA from the Darden School of Business at the University of Virginia and a BS in Finance and Accounting from the Smith School of Business at the University of Maryland, where he was a member of Omicron Delta Kappa, an NCAA Academic All American and Co-Captain of the men’s varsity tennis team. Mr. Cerminara also completed a China Executive Residency at the Cheung Kong Graduate School of Business in Beijing, China. Mr. Cerminara has earned the right to use the Chartered Financial Analyst (CFA) designation.
About Ballantyne Strong, Inc. (www.strong-world.com)
Ballantyne Strong designs, integrates, and installs technology solutions for a broad range of applications; develops and delivers out-of-home messaging, advertising and communications; manufactures projection screens and lighting products; and provides managed services including monitoring of networked equipment. The Company focuses on serving the retail, financial, government and cinema markets.
Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including but not limited to, quarterly fluctuations in results; customer demand for the Company’s products; the development of new technology for alternate means of motion picture presentation; domestic and international economic conditions; the management of growth; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results may differ materially from management’s expectations.