Company Website:
http://www.dgsecompanies.com
DALLAS -- (Business Wire)
DGSE Companies, Inc. (NYSE MKT: DGSE) (“DGSE” or “the Company”), 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
tendered his resignation from the positions of Chairman, President and
Chief Executive Officer of DGSE Companies, Inc., to be effective
September 15, 2015. Mr. Clem has held these positions since April of
2014. Mr. Clem is leaving to pursue other opportunities, and no
replacement has been named at this time.
“DGSE would like to thank Dusty for his many contributions to the
Company, and wish him the best in his future endeavors,” stated C. Brett
Burford, Chief Financial Officer of DGSE. “We have begun the search for
a new leader that will continue DGSE’s efforts to create profitable,
long-term growth for our shareholders. During this transitional time, we
expect no impact on our ability to service our customers at the store
level and create a positive jewelry, bullion and numismatic buying, and
selling, experience.”
Two members of DGSE’s Board of Directors, Bruce A. Quinnell and Dennis
A. McGill, have also tendered their resignations from the board,
effective August 4, 2015 and August 6, 2015, respectively. Mr. Quinnell
and Mr. McGill both leave the board due to personal reasons, unrelated
to Mr. Clem’s resignation. Neither Mr. Quinnell nor Mr. McGill has any
disagreements or disputes with the Company or its management. Both were
first elected to the board in June 2014, and were re-elected at the June
2015 Annual Meeting of Shareholders.
The Company is currently engaged in a search to fill the Chief Executive
role, as well as the two independent director seats. Mr. Clem will work
with the Company in his remaining time to facilitate a smooth transfer
of his responsibilities.
About DGSE Companies
DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine
watches, and precious metal bullion and rare coin products through its
Charleston Gold & Diamond Exchange, Chicago Gold & Diamond Exchange
(formerly Bullion Express), and Dallas Gold & Silver Exchange
operations. DGSE also owns Fairchild International, Inc., one of the
largest vintage watch wholesalers in the country. In addition to its
retail facilities in Illinois, South Carolina, and Texas, the Company
operates websites which can be accessed at www.dgse.com,
and www.cgdeinc.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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150810006310/en/
Contacts:
DGSE Companies, Inc.
C. Brett Burford, 972-587-4021
Chief
Financial Officer
investorrelations@dgse.com
Source: DGSE Companies, Inc.
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