Wrap Tech appoints new CEO, president; shares slide

Wrap Technologies

18/04/2022 16:06

** Shares of security tech developer Wrap Technologies
 WRAP.O  slide 5% to $2.44
    ** Co appoints TJ Kennedy as CEO and Kevin Mullins as
president, effectively immediately
    ** The move comes after co in late Jan announced the
departure of its CEO, chairman and a board member in a
management shakeup 
    ** Kennedy is an independent director at WRAP, while Mullins
was CEO of software firm Intrensic
    ** Co says duo will implement a plan to enhance WRAP's
capabilities in areas such as R&D, sales, supply chain and
strategic investments
    ** WRAP makes equipment for police as well as training
systems
    ** Shares down 40.3% YTD

 (Reporting by Sonia Cheema)
 ((Sonia.Cheema@thomsonreuters.com))