SMITHTOWN, NY--(Marketwired - Jul 11, 2016) - iGambit Inc. (OTCQB: IGMB), a diversified technology development holding company, announced that its Board of Directors has appointed Rory Welch as Chief Executive Officer effective immediately. Welch joined iGambit with the acquisition of ArcMail in November 2015 where he has and will continue to serve as the President and CEO, in addition to his new role. Mr. Welch will succeed John Salerno, who will continue as iGambit's Chairman of the Board.
"The past several years leading iGambit has been extremely rewarding as we have focused on the power of a holding company business model -- a model that offers significant growth potential as we acquire and help build technology companies. We have worked hard to position the Company to generate long-term value for our shareholders and now the time feels right to begin a seamless leadership succession to ensure iGambit's future remains bright.
"The Board and I are confident that Rory -- supported by iGambit's experienced and dedicated team -- is absolutely the right leader to continue our company's success," Salerno said. "He is exceptionally smart and capable, with global perspective and a proven track record of delivering results. I look forward to supporting him in his new role and working to ensure a smooth and seamless transition."
"I am honored to have the opportunity to lead our company and talented management team into the future," Rory Welch said. "Under John's leadership, we have made exceptional progress creating a high-performance, results-focused company. My commitment is to build on that success by accelerating our pace of progress. This is an exciting time, with tremendous growth opportunities, and all of us at iGambit are committed to leveraging our core model to achieve new levels of value-creation for our portfolio companies and our shareholders."
About Rory Welch
Mr. Welch brings important perspective and expertise to iGambit's next phase of growth with over 20 years of senior management experience cutting across multiple industries and global geographies. Prior to joining ArcMail, he managed his own consulting firm, and before that held leadership positions at Movado Group, Inc., including COO for the Boutique Division and Senior Vice President of Wholesale Operations. Earlier in his career, Rory was VP of Strategic Planning and Analysis at Arrow Electronics, where he was responsible for building performance models across all aspects of the organization. While at Arrow, Rory also held positions as: VP of Product Management for Asia-Pacific, with responsibility for overseeing all aspects of product management for this $1 billion division; General Manager of Aerospace/Military program accounts; Product Manager; and Asset and Logistics Manager. In addition to the industries mentioned above, Rory's management consulting experience has supplemented his industry knowledge, with his clients ranging from Fortune 100s to mid-market players in myriad industry verticals. His broad industry experience includes industrial distribution, Industrial manufacturing, semiconductor distribution, food processing, commercial and industrial communications, document archiving and storage, luxury goods, beauty care, and software.
About John Salerno
Mr. Salerno is a seasoned hands-on executive with over 40 years of experience with public and private computer software and service companies. Mr. Salerno built a multi-million dollar business from a start-up, servicing over 400 Real Estate building owners and managers in the NY Metropolitan area. The business was sold in 1984 and Mr. Salerno provided consulting services to a wide range of clients through 1995. In 1996, along with his lawyer daughter and a small group of private accredited investors he co-founded bigVAULT, Inc. an online backup and file-sharing company. After signing contracts with Verizon and Cablevision, this business was sold to Digi-Data Corp. in 2006 in an asset purchase sale and the big VAULT company name was changed to iGambit, Inc. iGambit received an upfront payment and receives on-going percentage payments. From 2006 thru February 2009 Mr. Salerno served as President of the Vault Services Division for Digi-Data. Upon the expiration of his contract the Vault Services Division was at a revenue run rate of $12 million annually. In March 2009, Mr. Salerno returned to his full time management role at iGAMBIT. Mr. Salerno is a former US Marine Corps, Crypto and Communications Officer and has a BS in Mathematics from Fordham University.
About iGambit Inc: iGambit (OTCBB: IGMB) is a fully reporting publicly-held company. We are a diversified holding company pursuing and evaluating a number of strategic objectives. These objectives include, among others, the potential acquisition of small to medium size businesses. We believe that the background of our management and of our Board of Directors in the technology markets is a valuable resource that makes us a desirable business partner to the companies that we are seeking to acquire. When we acquire a company, we work to assume an active role in the development and growth of the company, providing both strategic guidance and operational support. Once a company joins our partner company network, our collective expertise is leveraged to help position that company to produce high-margin, recurring and predictable earnings and generate long-term value for our stockholders. For more information, please visit www.igambit.com. Information on our website does not comprise a part of this press release.
A copy of the Form 8-K report may be accessed at www.sec.gov