International
. BroadSign International announced that its Board of Directors has appointed Burr Smith, Chairman of BroadSign's largest shareholder, Jedfam, as President and CEO. Former CEO Brian Dusho is taking over as BroadSign's Vice President.
The executive transition aligns with the news that BroadSign has secured a line of credit from Silicon Valley Bank, a high-tech commercial bank that targets sectors such as software and hardware.
"As BroadSign plans to take on new initiatives in this period of unprecedented growth, I believe it is time to fully invest my attention in the company. I am proud of BroadSign's structural and financial foundation that has allowed the company to raise capital solely in the power of its profits. The business has reached a point where it can stand on its own two feet; debt-free, profitable and well-funded for future projects," said Burr Smith, President and CEO of BroadSign.
BroadSign has more than 67,000 active player subscriptions and more than 200 digital signage networks running its cloud-based platform in more than 35 countries. Its Android-based smart player, BroadSign Xpress, has sold more than 6,500 units since it was made available to the market in September 2013.
"I am very excited that the achievements made during my tenure as CEO have led the company to this momentous agreement," added Brian Dusho, Vice President at BroadSign, "and we look forward to further developing other key initiatives that will help drive BroadSign's value and market share."
