JACKSONVILLE, Fla. - Cadre Holdings, Inc. (NYSE:CDRE), a $1.3 billion market cap company known for its manufacturing and distribution of safety equipment, has announced the appointment of Gianmaria Delzanno to its board of directors, effective today. According to InvestingPro analysis, the company maintains a GOOD financial health score, though current market valuation suggests the stock is trading above its Fair Value. Delzanno will assume the role of lead independent director and will chair the Nominating and Corporate Governance Committee. He will also serve as a member of the Audit Committee and the Compensation Committee.
The incoming director replaces Nicholas Sokolow, who is set to retire on January 31, 2025, after over a decade of service. CEO Warren Kanders expressed gratitude for Sokolow's contributions and welcomed Delzanno's extensive experience in finance and mergers and acquisitions, which is expected to support Cadre's strategic growth.
Delzanno brings over four decades of experience in the financial sector, including his current position as President of Delzanno & Co. Inc., and previous roles at Schroder Wertheim & Co. Incorporated and S.G. Warburg & Co., Ltd. His expertise spans across domestic and international M&A, corporate financing, and equity offerings.
With a history of board positions in various industries, Delzanno has served on the boards of Tempel Steel Company, Transfer Rapid Corporation, and Ansaldo Sistemi Industriali. His non-profit board service includes the Teatro alla Scala Foundation, USA.
Delzanno expressed enthusiasm about joining Cadre's board and contributing to the company's mission and growth. Cadre, headquartered in Jacksonville, Florida, provides critical safety products used globally by law enforcement, fire and rescue, EOD teams, and emergency medical technicians, with brands like Safariland® and Med-Eng®. The company maintains healthy profit margins, with a gross profit margin of 40.67% and has demonstrated revenue growth of 7.18% over the last twelve months. InvestingPro subscribers can access 7 additional key insights and a comprehensive Pro Research Report that provides deep-dive analysis of Cadre's financial performance and market position.
This board transition is based on a press release statement and is part of Cadre's ongoing governance and leadership strategy. The company cautions that forward-looking statements involve risks and uncertainties that could affect actual results.
Cadre Holdings, Inc. is a publicly traded company on the New York Stock Exchange under the ticker symbol CDRE. Despite recent market volatility, with shares down 12.5% over the past six months, the company maintains a strong current ratio of 3.01, indicating solid liquidity. Detailed financial metrics, valuation analysis, and expert insights are available through InvestingPro's comprehensive research platform.
In other recent news, Cadre Holdings, Inc. has announced significant changes to its bylaws and shared its third-quarter 2024 financial results. The revised bylaws, which include updates to stockholder proposals, director nominations, and board committee formations, took effect immediately. These changes aim to enhance clarity and consistency within the company's governance.
Simultaneously, the company's earnings call for the third quarter of 2024 has been made available for replay. Despite acknowledging potential risks and uncertainties in the markets it operates in, Cadre's management expressed confidence in their estimates and assumptions. The company also released supplemental presentation materials on its website to provide further insights into its financial performance and future projections.
However, Cadre Holdings did not specifically mention any underperformance during the third quarter but highlighted potential factors that could negatively affect its financial performance. Despite these challenges, the company aims to navigate through market uncertainties with strategic planning. These are some of the recent developments within Cadre Holdings, Inc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.