Insignia Systems, Inc. (Nasdaq: ISIG) today announced the appointment of John C. Gonsior as the Company’s new Vice President of Finance, Chief Financial Officer, and Treasurer. Prior to joining the Company, Mr. Gonsior was a Senior Manager in the audit practice at Grant Thornton LLP, the Company’s independent registered public accounting firm. Mr. Gonsior will start at the Company on June 13, 2011. As a result of the appointment of Mr. Gonsior, Grant Thornton is required under the professional independence rules applicable to independent registered public accounting firms to resign as the Company’s independent registered public accounting firm. The Company will begin interviewing potential successor firms and expects to engage one shortly.
Scott F. Drill, the Company’s Chief Executive Officer, commented: “The Board of Directors and officers of the Company are very excited about the addition of John Gonsior to the Company’s management team. Mr. Gonsior’s previous experience with the Company up until our first quarter of 2010 has provided him with an in depth knowledge of the Company which will be of great value to us in his role as a key member of our team.”
Insignia Systems, Inc. is an innovative developer and marketer of in-store advertising products, programs and services to retailers and consumer goods manufacturers. Through its Point-Of-Purchase Services (POPS) business, Insignia is contracted with 9,600 chain retail supermarkets and has access to approximately 12,000 additional retail stores under its agreement with News America Marketing In-Store, LLC. Through the nationwide POPS network, over 200 major consumer goods manufacturers, including General Mills, Kellogg Company, Kraft, Nestlé, Ocean Spray, Reckitt Benckiser, Schwan’s Bakery and Tyson Foods, have taken their brand messages to the point-of-purchase. For additional information, contact (888) 474-7677, or visit the Insignia website at www.insigniasystems.com.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements. The Company’s actual results could differ materially from these forward-looking statements as a result of a number of factors, including risks and uncertainties as described in the Company’s SEC Form 10-K for the year ended December 31, 2010 and other recent filings with the Securities and Exchange Commission. The Company wishes to caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made.
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