Brett Burford, CFO, Named to Board of Directors
DALLAS -- (Business Wire)
DGSE Companies, Inc. (NYSE MKT: DGSE), a leading wholesaler and retailer
of jewelry,
diamonds,
fine
watches, and precious metal bullion
and rare
coin products, today announced that James D. “Dusty” Clem has been
appointed to the positions of Chairman, President and Chief Executive
Officer of DGSE Companies, Inc., effective immediately. Mr. Clem
replaces James Vierling, who has resigned as CEO and as a director of
DGSE to accept a position with Elemetal, LLC (“Elemetal”), DGSE’s
largest shareholder.
In addition, Brett Burford, who has served as DGSE’s Chief Financial
Officer since August 2012, was named to DGSE’s Board of Directors,
effective immediately, replacing Mr. Vierling on the DGSE Board.
Mr. Clem became Chief Operating Officer of DGSE Companies, Inc. in
December 2012. Previously, he served as DGSE’s Vice President of Sales
and Marketing from 2008 to 2012. Prior to 2008, Mr. Clem was with the
Heritage Organization, LLC, an estate planning firm, for seven years
where he served in several positions including Vice President of Sales
and Marketing and ultimately Chief Operating Officer. Mr. Clem holds a
B.B.A. in business from the University of Texas at Arlington.
“I am excited to lead DGSE Companies through the next phase of its
evolution,” commented Mr. Clem. “I wish to thank Jim Vierling for his
years of service to the Company, its employees, customers and
shareholders. He played a pivotal role in helping the new management
team overcome the challenges we faced, and reposition DGSE for future
success. With most of the legacy issues now behind us, this is the ideal
time for this transition as we take the next step towards sustained
profitability.”
Mr. Vierling added, “I am certain that Dusty is the ideal person to lead
DGSE into the future. I look forward to facilitating a smooth and
orderly transition, and continuing to support the Company in the months
and years to come in my new role at Elemetal, DGSE’s largest
shareholder.”
About DGSE Companies
DGSE Companies, Inc. wholesales and retails jewelry,
diamonds,
fine
watches, and precious metal bullion
and rare
coin products through its Bullion Express, Charleston Gold & Diamond
Exchange, Dallas Gold & Silver Exchange, and Southern Bullion Coin &
Jewelry operations. DGSE also owns Fairchild International, Inc., one of
the largest vintage watch wholesalers in the country. In addition to its
retail facilities in Alabama, Florida, Georgia, Illinois, South
Carolina, Tennessee and Texas, the Company operates internet websites
which can be accessed at www.bullionexpress.com,
www.dgse.com,
www.cgdeinc.com,
and www.sbcoin.com.
Real-time price quotations and real-time order execution in precious
metals are provided on another DGSE website at www.USBullionExchange.com.
Wholesale customers can access the full vintage watch inventory through
the restricted site at www.FairchildWatches.com.
The Company is headquartered in Dallas, Texas and its common stock
trades on the NYSE MKT exchange under the symbol "DGSE."
This press release includes statements which may constitute
"forward-looking" statements, usually containing the words "believe,"
"estimate," "project," "expect" or similar expressions. These statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
inherently involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements.
Factors that would cause or contribute to such differences include, but
are not limited to, continued acceptance of the Company's products and
services in the marketplace, competitive factors, dependence upon
third-party vendors, and other risks detailed in the Company's periodic
report filings with the Securities and Exchange Commission. By making
these forward-looking statements, the Company undertakes no obligation
to update these statements for revisions or changes after the date of
this release.
Contacts:
DGSE Companies, Inc.
Dusty Clem, 972-587-4021
Chairman,
President and CEO
investorrelations@dgse.com
or
Hayden
IR
Brett Maas, 646-536-7331
Managing Partner
brett@haydenir.com
Source: DGSE Companies, Inc.
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