NEW YORK, April 06, 2016 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2”) (NYSE MKT:HCHC), a diversified holding company that focuses on acquiring and operating businesses that it considers to be under or fairly valued and growing its acquired businesses, announced today that Andrew G. Backman has been named to the newly created position of Managing Director - Investor Relations and Public Relations, effective April 4, 2016.
Mr. Backman, a Global Investor Relations and Public Relations executive with 20+ years of financial and operational experience leading high-profile financial services, telecommunications, media and entertainment and commercial real estate finance organizations, will be responsible for building and further expanding a leading Investor Relations and Public Relations platform to support HC2 Holdings and its domestic and international strategies. Mr. Backman will report directly to Philip Falcone, HC2’s Chairman, President and Chief Executive Officer.
Mr. Falcone commented, "Andy brings tremendous experience and value to the HC2 senior executive team. He has a proven track record of helping companies create value by building and strengthening relationships with major institutional investors, individual and retail shareholders and leading research analysts worldwide. Andy’s significant and award winning investor relations expertise and his ability to develop and implement strategic communications platforms, will become an important component of our long-term growth strategy.”
Prior to joining HC2, Mr. Backman served as Managing Director of Investor Relations and Public Relations for RCS Capital, the second largest independent retail advice company in the United States and AR Capital, now AR Global, an active sponsor and manager of alternative investment programs. Previously, Mr. Backman was Chief Executive Officer of InVision Investor Relations Inc., a New York based Investor Relations advisory firm he founded in 2011. Prior to InVisionIR, Mr. Backman served as Senior Vice President, Investor Relations & Marketing for iStar Financial, a leading commercial real estate finance company where he was integrally involved in all capital raising and restructuring initiatives. From 2000 to 2004, Mr. Backman served as Vice President, Investor Relations and Marketing Communications for Corvis Corporation / Broadwing Communications, where he was responsible for leading the company through one of the most successful and highly publicized initial public offerings in history. Mr. Backman spent the first 10 years of his career at Lucent Technologies, Inc. and AT&T Corp. where he held various domestic and international positions within the Finance, Accounting, Investor Relations, Public Relations and Mergers and Acquisitions organizations.
Mr. Backman earned a Bachelor of Arts degree in Economics from Boston College and was a graduate of AT&T / Lucent Technologies prestigious Financial Leadership Program (FLP), a highly-selective and competitive, two-year rotational and academic program for highest performing finance and accounting executives.
Mr. Backman added, "I am truly excited to join the dynamic HC2 team and look forward to playing a significant role in the growth of the company and its long-term success."
Photo available upon request.
Cautionary Statement Regarding Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements. Generally, forward-looking statements include information describing actions, events, results, strategies and expectations and are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions. The forward-looking statements in this press release include without limitation statements regarding our expectation regarding building shareholder value. Such statements are based on the beliefs and assumptions of HC2's management and the management of HC2's subsidiaries. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company’s actual results could differ materially from those expressed or implied in the forward-looking statements due to a variety of important factors, both positive and negative, that may be revised or supplemented in subsequent reports on Forms 10-K, 10-Q and 8-K. Such important factors include, without limitation, unanticipated issues related to the restatement of our financial statements; the fact that we have identified material weaknesses in our internal control over financial reporting, and any inability to remediate future material weaknesses; capital market conditions; the ability of HC2's subsidiaries to generate sufficient net income and cash flows to make upstream cash distributions; volatility in the trading price of HC2 common stock; the ability of HC2 and its subsidiaries to identify any suitable future acquisition opportunities; our ability to realize efficiencies, cost savings, income and margin improvements, growth, economies of scale and other anticipated benefits of strategic transactions; difficulties related to the integration of financial reporting of acquired or target businesses; difficulties completing pending and future acquisitions and dispositions; effects of litigation, indemnification claims, and other contingent liabilities; changes in regulations and tax laws; and risks that may affect the performance of the operating subsidiaries of HC2. These risks and other important factors discussed under the caption “Risk Factors” in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release.
You should not place undue reliance on forward-looking statements. All forward-looking statements attributable to HC2 or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and HC2 undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
HC2 Holdings, Inc. is a publicly traded (NYSE MKT:HCHC) diversified holding company, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. HC2 has a diverse array of operating subsidiaries across seven reportable segments, including Manufacturing, Marine Services, Utilities, Telecommunications, Life Sciences, Insurance and Other. HC2’s largest operating subsidiaries include Schuff International, Inc., a leading structural steel fabricator and erector in the United States, and Global Marine Systems Limited, a leading provider of engineering and underwater services on submarine cables. Founded in 1994, HC2 is headquartered in Herndon, Virginia.
For More Information on HC2 Holdings, Inc., Please Contact: Andrew G. Backman abackman@HC2.com 212-339-5836
Source:HC2 Holdings, Inc.