Posted 13 November, 2023

Digital Media Solutions, Inc. appointed Mr. Joseph Marinucci as new CEO

OTC:DMSL appointed new Chief Executive Officer Mr. Joseph Marinucci in a 8-K filed on 13 November, 2023.

  Also on November 7, 2023, Mr. Fernando Borghese, the Company's Chief Operating Officer, was appointed President of the Company, and Mr. Joseph Marinucci relinquished that title while remaining the Company's Chief Executive Officer.  

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Overview of Digital Media Solutions, Inc.
Business/Consumer Services • Advertising/Marketing/Public Relations
Digital Media Solutions, Inc. is a marketing technology company, which engages in the provision of performance-driven brand and marketplace solutions to connect consumers and advertisers. It operates through the following segments: Brand Direct, Marketplace, and Technology Solutions. The Brand Direct segment consists of fees from the charge collected to customers when the company advertises directly for them under their brand name. The Marketplace segment includes services delivered directly to the DMS brand. The Technology Solutions segment offers software services and digital media services that are managed on behalf of the customer. The company was founded by Joseph L. Marinucci, Fernando Borghese, Luis A. Ruelas, Matt Goodman, and David Shteif in 2012 and is headquartered in Clearwater, FL.
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Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Appointment of Chief Financial Officer

On November 7, 2023, the Board of Directors ("Board") of Digital Media Solutions, Inc. (the "Company") appointed Vanessa Guzmán-Clark, 43, as the Company's Chief Financial Officer, effective November 7, 2023. 

Ms. Guzmán-Clark has been the Company's Interim Chief Financial Officer since April 22, 2023, holding previous positions, including the Company's Financial Controller, prior to appointment. Ms. Guzmán-Clark is a Florida Certified Public Accountant (CPA) and has more than 22 years of experience in finance and accounting. Prior to joining the Company, Ms. Guzmán-Clark served as the Chief Financial Officer and Vice President of Legacy Education Alliance, Inc., a publicly-traded company, from 2019 until November 2021, when she joined the Company as a Financial Consultant. From 2017 to 2019, Ms. Guzmán-Clark was the Director of Financial Systems at The Children's Home Society of Florida, Florida's oldest not-for-profit in the care of children. From 2008 to 2017, Ms. Guzmán-Clark served in a wide variety of Controller and CFO consulting roles for middle-market private and not-for-profit entities. From 2002 to 2007, Mrs. Guzmán-Clark was a Senior Auditor at PricewaterhouseCoopers, LLP. Ms. Guzmán-Clark holds a Master of Accounting & Financial Management and a Master of Business Administration from Keller Graduate School of Management.

Pursuant to the terms of an Offer Letter, dated as of November 7, 2023 (the "Guzmán-Clark Offer Letter"), by and between the Company and Ms. Guzmán-Clark, she will receive (1) an annual base salary of $380,000; (2) eligibility for participation in a short-term performance incentive (STI) plans determined from time to time by the Compensation Committee of the Board; (3) eligible for long-term equity incentive grants subject to and upon the approval of the Compensation Committee of the Company's Board of Directors; and (4) standard employee benefits paid by the Company.

The Guzmán-Clark Offer Letter provides for certain severance benefits upon a termination by the Company without "cause" or for "good reason." In the event of a termination without "cause" or "good reason" by the Company, Ms. Guzmán-Clark would be entitled to (i) continued payment of her base salary for twelve (12) months and (ii) payment of the Company's portion of the premium for healthcare continuation coverage under COBRA at the same level of coverage she was entitled to at the time of termination of employment, subject to the timely election of continuation coverage. 

The foregoing description of the Guzmán-Clark Offer Letter does not purport to be complete and is qualified in its entirety by reference to the Guzmán-Clark Offer letter, which is attached to this Current Report as Exhibit 10.1 and incorporated herein by reference.

There are no family relationships between Ms. Guzmán-Clark and any director or other executive officer, nor are there any transactions to which the Company was or is a participant and in which Ms. Guzmán-Clark has a material interest subject to disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Ms. Guzmán-Clark and any other persons pursuant to which she was selected as an officer.

Appointment of President

Also on November 7, 2023, Mr. Fernando Borghese, the Company's Chief Operating Officer, was appointed President of the Company, and Mr. Joseph Marinucci relinquished that title while remaining the Company's Chief Executive Officer. There are no adjustments to compensation in connection with these changes.