Wrap’s Independent Director of the Board, TJ Kennedy, to Serve as Chief Executive after Extensive Search
Kevin Mullins, Former President and CEO of Intrensic, to Serve as President
New Appointments of Industry Veterans Will Support Wrap’s Growth Pursuit in Over $50 Billion Estimated Addressable Market
TEMPE, Arizona, April 18, 2022–(WORK TEL)—Wrap Technologies, Inc. (Nasdaq: WRAP) (“Wrap” or “The Company”), the world leader in innovative public safety technologies and services, today announced the appointment of TJ Kennedy as Chief Executive and Kevin Mullins. As President, it takes effect immediately.
The appointments of Mr. Kennedy and Mullins reflect Wrap’s commitment to evolve and mature as a technology company in the rapidly growing market of public safety solutions. They have decades of experience helping technology and public safety companies build growth-driven cultures and platforms around innovative products and solutions. Wrap’s Board of Directors (“Board of Directors”) determined that Mr. Kennedy and Mullins have the right background and expertise to drive global demand for the BolaWrap 150 and ultimately diversify the Company’s offerings for existing customers and new segments of the market.
During the board’s research process, Mr. Kennedy and Mullins demonstrated a thorough understanding of the steps needed to achieve scale and market leadership over the long term. They are committed to implementing a structured operations plan to enhance Wrap’s capabilities in areas such as research and development, sales, supply chain and strategic investments. The Board is confident that this rebuilt management team will bring a new level of strategic thinking and operational expertise to Wrap.
Wayne Walker, Chairman of the Board, said:
“Our board has spent the last twelve weeks searching for the right leaders to oversee Wrap’s evolution into a more dynamic and diversified provider of public safety solutions. We are pleased that our extensive process has resulted in the appointment of the uniquely equipped TJ and Kevin. A broader approach to complement the BolaWrap 150. developing a set of technology-driven offerings. TJ and Kevin bring proven track record of helping companies innovate, commercialize, and sell high-quality products and services to global law enforcement. Have a solid understanding of Wrap’s opportunity set and practice how to meet the needs of existing and new customers. See your ways.”
TJ Kennedy Biography
Mr. Kennedy is a seasoned corporate leader with nearly three decades of experience in the technology and public safety industries. Throughout his career, he has driven corporate excellence and executed multifaceted business strategies that have produced strong results for customers, employees, shareholders and first responders. He also brings a unique perspective on the field as a law enforcement officer.
Notably, Mr. Kennedy previously spearheaded FirstNet, one of the largest public safety technology initiatives in recent history; it provided mission critical connectivity to police officers, firefighters and EMS personnel in the United States. The FirstNet authority oversees the public safety LTE network in all 50 states, five territories, and the District of Columbia, serving more than 3 million first responder connections and more than 19,500 public safety agencies. FirstNet’s success has led to lower costs, more options for public safety, and custom solutions that include hundreds of certified devices and public safety applications.
Additionally, Mr. Kennedy has served as a member of Wrap’s Board of Directors since 2021, giving him a unique insight into the Company’s opportunities going forward. Most recently, he was the Chief Executive Officer, President, and Director of Qumu, Inc., a SaaS company, since July 2020.
Kevin Mullins Biography
Kevin Mullins is a seasoned corporate executive with a successful track record of taking public safety technology companies from concept to growth and profitability. Some of his notable achievements include creating an innovative body worn camera and bringing a SaaS-based digital evidence management system company to market. He has a deep understanding of global public safety technology industries with extended sales cycles and city and county budget requirements. For the past eight years, he has served as President and CEO of Intrensic, a leading digital evidence and video management software solutions company. During his tenure, he led the development of new technology and set the business direction and was instrumental in marketing his solutions to public safety agencies.
Scot Cohen, a co-founder, director and key shareholder of Wrap, added:
“We believe Wrap has the potential to grow its footprint in a market currently estimated at more than $50 billion. Looking back at TJ and Kevin’s backgrounds, we see two leaders who can help us reach more customers. As this market evolves, more products and more The solution. As a major shareholder, I couldn’t be more pleased to have them at the helm.”
WRAP Technologies (Nasdaq: WRAP) is a world leader in innovative public safety technologies and services. WRAP develops creative solutions to complex problems and empowers public safety officers to protect and serve their communities through a portfolio of cutting-edge technology and education solutions.
WRAP’s BolaWrap® Remote Restraint device is a patented hand-held front climbing and catching tool that unloads a Kevlar® string to temporarily restrain uncooperative suspects and people in crisis from a distance. With many field uses and increasing adoption by agencies worldwide, BolaWrap is proving to be an effective tool for helping law enforcement detain individuals safely without injury or the need for higher levels of force.
WRAP Reality, the company’s virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform that provides first responders with discipline and practice in de-escalation, conflict resolution and the use of force to better perform. domain.
WRAP is headquartered in Tempe, Arizona. For more information please visit wrap.com.
BolaWrap, Wrap and Wrap Reality are trademarks of Wrap Technologies, Inc. All other trade names used herein are trademarks or registered trademarks of their respective owners.
Warning Note on Forward-Looking Disclosures – Safe Harbor Statement
This press release includes, but is not limited to, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995: statements relating to the general business of the Company; total addressable market; and expectations of future sales and expenses. ‘expect’, ‘anticipate’, ‘should’, ‘believe’, ‘target’, ‘project’, ‘targets’, ‘anticipate’, ‘potential’, ‘anticipate’, ‘could’, ‘could’ Words such as “may”, “intend” and variations or negatives of these terms and similar expressions are intended to describe these forward-looking statements. In addition, forward-looking statements are designed to describe a range of risks and conditions, many of which involve factors or conditions beyond the Company’s control. The Company’s actual results may differ materially from those expressed or implied in forward-looking statements due to a number of factors including, but not limited to: the Company’s ability to successfully implement training programs for the use of its products; The Company’s ability to manufacture and manufacture products for its customers; Sales development capability for the company’s new product solution; acceptance of current and future products, including acceptance of the BolaWrap 150; future deliveries the risk that distributor and customer orders will be altered, rescheduled or canceled in the normal course of business; availability of finance to continue financing operations; the complexity, expense, and time associated with sales to law enforcement and government agencies; Long evaluation and sales cycle for the company’s product solution; product defects; the risks of litigation from injuries related to the alleged product; the risks of government regulation; the commercial impact of health crises or disease outbreaks such as epidemics or pandemics; Ability to obtain export licenses for countries other than the USA; ability to obtain patents and defend intellectual property against competitors; impact of competitive products and solutions; and the Company’s ability to protect and enhance its brand, as well as other risk factors identified in the Company’s most recent annual report on Form 10-K, the quarterly report on Form 10-Q, and other SEC filings. These forward-looking statements are made as of the date of this press release and are based on management’s beliefs and assumptions, as well as current expectations, estimates, estimates and projections. Except as required by law, the Company undertakes no duty or obligation to update the forward-looking statements contained in this release due to new information, future events, or changes in its expectations.
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