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CSP Inc. Announces Three Board Appointments

Stocks in this article: CSPI

BILLERICA, Mass., July 22, 2013 (GLOBE NEWSWIRE) -- CSP Inc. (Nasdaq:CSPI), a provider of IT solutions, systems integration services and dense cluster computing systems, today announced that it has appointed Raymond Charles Blackmon, Robert Bunnett and Marilyn T. Smith to its board of directors, effective Today. With the additions to its board, the company replaces former director Christopher J. Hall, who resigned on April 3, 2013, and temporarily expands the board to seven members until February of 2014 when directors Robert M. Williams and J. David Lyons will be required to retire in compliance with the company's age 75 retirement policy.

"These three new independent directors have deep experience in our end markets and provide the board with significant additional expertise in technology, operations and finance," said Chairman Shelton James. "Charles, Robert and Marilyn each have proven track records of driving growth within their organizations, and we look forward to their insight and counsel as we execute on our new growth strategy. On behalf of the entire organization, I also would like to extend our thanks to Chris Hall, who recently left the board, and to Bob Williams and David Lyons, who both will be retiring in February after serving more than 15 years. We have greatly benefitted from their counsel."

Charles Blackmon, 63, is a finance executive with more than 30 years experience as a CFO to public and private companies. He is currently Senior Vice President of Timberland Harvesters, LLC, where he is responsible for financial reporting and bank and financing relationships for high net worth individuals. He also is on the board of directors at Concurrent Computer Corporation, a provider of hardware, software and professional services to the media industry. Blackmon previously served as Chief Financial Officer of Interline Brands, Inc., after spending nearly 25 years as Executive Vice President and CFO of Magnatrax Corporation (formerly American Buildings Company), which he helped grow from $100 million to $1 billion in annual sales, and oversaw its successful IPO. Blackmon will serve on the Audit and Investment Committees.

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