ITASCA, Ill.,
April 14, 2022
/PRNewswire/ - (NYSE: KFS) In furtherance of its strategy of
focusing on core operations and acquisitions, Kingsway Financial
Services Inc. ("Kingsway" or the "Company") today announces the
creation of a Strategic Advisory Board to the newly formed Kingsway
Search Xcelerator ("KSX") segment, which includes the unique CEO
Accelerator program. The goal of the Advisory Board will be to
assist the KSX CEOs and Operators-in-residence with their strategic
thinking, acquisition opportunity analysis, operational execution,
and capital allocation decisions, as well as to provide advice,
experience, and expanded networks.
KSX is honored to welcome Thomas P.
Joyce, Jr. and William N. Thorndike,
Jr. as members of the Advisory Board.
"We are excited to welcome such distinguished industry experts
and business builders as the inaugural members of our Strategic
Advisory Board," said Kingsway
President and CEO, J.T.
Fitzgerald. "We look forward to working with Tom and Will
and we believe we will benefit immensely from their unique
perspectives and extensive experience as we continue to build
KSX."
Thomas P. Joyce, Jr. most
recently served as President, Chief Executive Officer, and Director
of Danaher Corporation, from which he retired in 2020. Prior to
becoming CEO, Mr. Joyce held multiple executive positions during
his 31-year career at Danaher. Mr. Joyce currently serves on the
boards of Roper Technologies, Inc., College of
the Holy Cross, MedStar Health, Inc., and The Economic Club
of Washington.
William N. Thorndike, Jr.
is the Managing Partner of The Cromwell Harbor Partnership, a
private investment company with a variety of long-term holdings.
Prior to Cromwell Harbor, Thorndike founded Housatonic Partners, a
leading private equity firm with offices in Boston and San
Francisco. He is Chairman of the Board at CNX Resources, and
the Co-Chairman of EverArc Holdings. He is also a Director of
several private companies, including QMC Telecom and Banyan
Software. He is a Founder and Jury Member for The Singleton Prize
for CEO Excellence, serves as a Trustee for Cromwell Harbor
Foundation, WGBH, College of the
Atlantic, and the Land and Garden Preserve. He is the author
of The Outsiders: Eight Unconventional CEOs and Their
Radically Rational Blueprint for Success.
"Tom's long track record of value creation at Danaher, through
the combination of thoughtful capital allocation, talent
development and business building, will be an incredible resource
for our KSX companies and their managers," said Mr. Fitzgerald.
"Given Will's extensive background and experience in search fund
investing, capital allocation, and financial management we believe
that he will make important contributions to KSX's strategy and
growth," continued Mr. Fitzgerald. "We are excited and grateful to
have both Tom and Will share their wealth of knowledge with KSX and
we believe this will provide a competitive advantage to KSX and
Kingsway for years to come."
About the Company
Kingsway is a holding company that owns or controls subsidiaries
primarily in the extended warranty, business services, asset
management and real estate industries. The common shares of
Kingsway are listed on the New York Stock Exchange under the
trading symbol "KFS."
Forward-Looking Statements
This press release and/or Shareholder Letter may include
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 that are not historical facts, and involve
risks and uncertainties that could cause actual results to differ
materially from those expected and projected. Words such as
"expects," "believes," "anticipates," "intends," "estimates,"
"seeks" and variations and similar words and expressions are
intended to identify such forward-looking statements; however, the
absence of any such words does not mean that a statement is a not a
forward-looking statement. Such forward-looking statements relate
to future events or future performance, but reflect Kingsway
management's current beliefs, based on information currently
available. A number of factors could cause actual events,
performance or results to differ materially from the events,
performance and results discussed in the forward-looking
statements, including as a result of the COVID 19 pandemic. For
information identifying important factors that could cause actual
results to differ materially from those anticipated in the
forward-looking statements, please refer to the section entitled
"Risk Factors" in the Company's 2021 Annual Report on Form 10-K and
subsequent Form 10-Qs and Form 8-Ks filed with the Securities and
Exchange Commission. Except as expressly required by applicable
securities law, the Company disclaims any intention or obligation
to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.
Additional Information
Additional information about Kingsway, including a copy of its
Annual Reports can be accessed on the EDGAR section of the U.S.
Securities and Exchange Commission's website at www.sec.gov, on the
Canadian Securities Administrators' website at www.sedar.com, or
through the Company's website at www.kingsway-financial.com.
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SOURCE Kingsway Financial Services Inc.