VIQ Solutions Inc. ("VIQ", "VIQ Solutions" or the "Company")
(TSX and Nasdaq: VQS), a global provider of secure, AI-driven,
digital voice and video capture technology and transcription
services, today announced the appointment of the Company’s
Chairman, Larry Taylor, as Executive Chairman. Additionally, the
Company announced the appointment of Tim Johnson as Senior Vice
President of International.
Appointment of Executive Chairman
As both an executive and board member, Mr. Taylor’s new role was
created to work closely with the executive team and accelerate the
Company’s delivery of increased profitability and enhanced cash
flow generation in 2023. To achieve these goals, Mr. Taylor and
executives will focus on completing the integration of recent
Australian acquisitions, onboarding the Company’s large customer
contracts, particularly in Australia, expanding the Company’s
global delivery capability, and ensuring the organization is
structured to maximize the value of its rapidly growing
subscription based recurring revenue. These initiatives are
critical to the Company’s success.
There is no change to the composition of the Office of the CEO,
including Sebastien Paré, CEO, Susan Sumner, President and COO, and
Alexie Edwards, CFO; all of whom will report to Mr. Taylor. Mr.
Taylor’s broad financial and business experience will be brought to
bear alongside the Office of the CEO and the Board of
Directors.
“The VIQ Board recognizes this is a time requiring all hands-on
deck. We are disappointed with 2022 financial performance and
recognize the industry challenges created by completing significant
acquisitions amidst labor shortages, client shutdowns and delayed
technology migration created by the pandemic. Successfully
executing the operational initiatives we launched this year is our
highest priority. The Board will continue to work closely with the
executive team and our advisors to review options to increase
shareholder value through 2023 and beyond,” said Mr. Taylor.
Appointment of Senior Vice President of International
The Company is also pleased to announce the appointment of Tim
Johnson following the recently announced partnership with
ORdigiNAL, a specialized value-added distributor of document
creation solutions and one of the largest distributors of Nuance
technologies across the globe.
Mr. Johnson, who most recently served as the Head of Sales,
Healthcare, for Nuance/Microsoft in the United Kingdom and Ireland,
will focus on client and partner advocacy to drive international
growth and adoption of transformative technologies across targeted
verticals. Mr. Johnson reports to Susan Sumner, President and COO,
and he will be instrumental in leading the newly signed ORdigiNAL
partnership to offer VIQ solutions to its vast dealer network,
operating throughout Europe and Asia Pacific.
“Tim is responsible for leading the team building distribution
through critical partners, like ORdigiNAL, as we rapidly evolve to
selling SaaS solutions in our key verticals. His objective is to
expand the adoption of our industry leading transcription,
documentation and workflow management solutions to drive digital
transformation for our clients across the globe,” said Susan
Sumner.
For more information about VIQ, please visit
viqsolutions.com.
About VIQ Solutions
VIQ Solutions is a global provider of secure, AI-driven, digital
voice and video capture technology and transcription services. VIQ
offers a seamless, comprehensive solution suite that delivers
intelligent automation, enhanced with human review, to drive
transformation in the way content is captured, secured, and
repurposed into actionable information. The cyber-secure, AI
technology and services platform are implemented in the most rigid
security environments including criminal justice, legal, insurance,
government, corporate finance, media, and transcription service
provider markets, enabling them to improve the quality and
accessibility of evidence, to easily identify predictive insights
and to achieve digital transformation faster and at a lower
cost.
Forward-Looking Statements
Certain statements included in this news release constitute
forward-looking statements or forward-looking information
(“forward-looking statements”) under applicable securities
legislation. Such forward-looking statements are provided for the
purpose of providing information about management's current
expectations and plans relating to the future. Readers are
cautioned that reliance on such information may not be appropriate
for other purposes.
Forward-looking statements typically contain statements with
words such as "anticipate", "believe", "expect", "plan", "intend",
"estimate", "propose", "project" or similar words suggesting future
outcomes or statements regarding an outlook. Forward-looking
statements in this news release include, but are not limited to,
those statements with respect to the Company’s business objectives
and the expected roles of Messrs. Taylor and Johnson.
Forward-looking statements are based on several factors and
assumptions which have been used to develop such statements and
information, but which may prove to be incorrect. Although VIQ
believes that the expectations reflected in such forward-looking
statements are reasonable, undue reliance should not be placed on
forward-looking statements because VIQ can give no assurance that
such expectations will prove to be correct. In addition to other
factors and assumptions which may be identified in this news
release, assumptions have been made regarding, among other things,
the Company’s business plans and goals. Readers are cautioned that
the foregoing list is not exhaustive of all factors and assumptions
that have been used.
Forward-looking statements are necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this news release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to the factors described in greater detail in the
“Risk Factors” section of the Company’s annual information form
dated March 31, 2022 and in the Company’s other materials filed
with the Canadian securities regulatory authorities and the U.S.
Securities and Exchange Commission from time to time, available at
www.sedar.com and www.sec.gov, respectively. These factors are not
intended to represent a complete list of the factors that could
affect the Company; however, these factors should be considered
carefully. There can be no assurance that such estimates and
assumptions will prove to be correct. The forward-looking
statements contained in this news release are made as of the date
of this news release, and the Company expressly disclaims any
obligation to update or alter any forward-looking statements, or
the factors or assumptions underlying them, whether as a result of
new information, future events or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20221117005988/en/
Media: Laura Haggard Chief Marketing Officer VIQ
Solutions Inc. Phone: (800) 263-9947 Email:
marketing@viqsolutions.com Investor Relations: Laura Kiernan
High Touch Investor Relations Ph. 1-914-598-7733 Email:
viq@htir.net
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