Monster Digital Inc (NASDAQ: MSDI)
Monster Digital is having a pretty strong day in the market today, and for good reason. Early this morning, the company published a press release announcing changes to management. The shakeup is refueling bullish opinions surrounding the company. Below, we’ll talk about the management shakeup, how the stock is reacting, and what we can expect to see from MSDI ahead.
Management Changes At MSDI
As mentioned above, Monster Digital is having a strong day in the market today after announcing management changes. In the press release, 5 changes to management were offered…
Management Change #1: Vivek Tandon Resigns
It has been announced that the Executive Vice President, Vivek Tandon, has tendered his resignation. His resignation will become effective as of March 31st. The reason given for his resignation is to spend time with family. He has also said that he will be available to provide assistance to Monster Digital if the need arises.
Management Change #2: Steve Purcell Appointed As Vice President
In the press release, the MSDI also informed investors that Steve Purcell joined the company in the beginning of January as the Vice President. In the past, Steve Purcell worked under the company’s Interim President Jonathan Clark at Sundance/Jacuzzi Spa. There, he held the position as Senior Vice President of Operations. His duties included oversight of engineering, product design, sourcing and quality control. He has also held a position as General Manager at Mr. Coffee.
Management Change #3: Steve Brownsell Promoted To Executive Vice President
Steve Brownsell joined the MSDI team in October of 2016. Today, it was announced that he has been promoted to take over Vivek Tandon’s position as Executive Vice President. Brownsell has more than 20 years of experience as a board based executive. His experience includes relationships with Hilton Hotels and Priority Posting. He holds a graduate of Oxford University in the UK and earned his master’s degree from Wake Forest University.
Management Change #4: Brian Dimick Joins As Vice President of Sales
We also learned through the Moster Digital press release that Brian Dimic, a marketing expert with a background to match, has been appointed as the company’s Vice President of Sales. His extensive background includes key positions held at Warner Bors. Interactive Entertainment, Sony Entertainment and HiTech Marketing. Dimick earned his degree in marketing and advertising at Indiana University.
Management Change #5:Shaun Greenheld Is Appointed As QA Manager
Finally, MSDI announced that it has appointed Shaun Greenheld as the Quality Assurance Manager. Greenheld served as a Quality Control Inspector and ISO specialist for more than 5 years at Binder USA.
In a statement, David H, Clarke, Chairman and CEO at MSDI, had the following to offer with regard to the management changes…
“We want to recognize the contributions Vivek Tandon has made to Monster Digital and appreciate his willingness to help in transition. We wish him great success in his new family venture.”
How The Stock Reacted To The Newsletter
As investors, we know that the news moves the market. In this particular case, investors are happy to see the growth among management, and they are sending the stock up. As a result, at the moment (11:48) the stock is trading at $1.70 per share after a gain of $0.03 per share or 1.79% thus far today.
What We Can Expect To See Ahead
Moving forward, MSDI looks incredibly promising. With improvements on key products, and now management changes that set in place the key fundamental building blocks of a strong team, the company looks poised for a strong 2017.
What Do You Think?
Where do you think MSDI is headed moving forward? Join the discussion in the comments below!