Release Details
TRANSACT TECHNOLOGIES PROMOTES STEVEN A. DEMARTINO TO PRESIDENT/CFO; PROMOTES TRACEY CHERNAY TO EVP - SALES AND MARKETING
HAMDEN, CT - June 1, 2010 - TransAct Technologies Incorporated (NASDAQ: TACT), a global leader in market-specific printers for transaction-based industries, today announced that the Company has promoted current Chief Financial Officer Steven A. DeMartino to President/CFO and Tracey S. Chernay to Executive Vice President - Sales and Marketing, effective immediately.
In addition to his current role overseeing the finances of TransAct, Mr. DeMartino will now oversee the company's operations and human resources divisions, as well as information technology functions where he will drive forward the Company's operating strategy. In her new role, Ms. Chernay will be leading TransAct's efforts to combine the Company's product sales with the Company's consumables, service and web sales.
"It is a very exciting time at TransAct, and with all of the potential we are seeing for this company in the future, we have decided to make these strategic changes," said Bart C. Shuldman, Chairman and Chief Executive Officer of TransAct Technologies. "With the move of most of our production to Asia behind us, Steve can now focus on managing this part of the business for TransAct. It will free me up to concentrate my full efforts on the vast amount of growth opportunities we are currently seeing, specifically in terms of new products and markets, international expansion and potential acquisitions."
Mr. Shuldman continued, "Tracey's promotion will align our product sales with our service and new web store. This gives us a strategic advantage in the marketplace by combining our printers with consumables and service into one package while also letting us take advantage of the work we have done with our world-class web store."
"Steve and Tracey have done a tremendous job for the Company, and I am extremely proud to be announcing these promotions," concluded Mr. Shuldman.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated (NASDAQ: TACT) is a leader in developing and manufacturing market-specific printers for transaction-based industries. These industries include casino, gaming, lottery, banking, kiosk and point-of-sale. Each individual market has distinct, critical requirements for printing and the transaction is not complete until the receipt and/or ticket is produced. TransAct printers are designed from the ground up based on market specific requirements and are sold under the Ithaca® and Epic product brands. TransAct distributes its printers through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over two million printers installed around the world. TransAct is committed to world-class printer service, spare parts and accessories required by a growing worldwide installed base of printers. Beyond printers, TransAct is a leader in providing printing supplies to the full transaction printer market. Through its TransAct Services Group, TransAct provides a complete range of supplies and consumables items used in the printing and scanning activities of customers in the hospitality, banking, retail, gaming and government markets. Through its webstore, http://www.transactsupplies.com, and a direct selling team, TransAct addresses the growing on-line demand for these products. TransAct is headquartered in Hamden, CT. For more information on TransAct, visit http://www.transact-tech.com or call 203.859.6800.
Contact:
TransAct Technologies Incorporated
Steven DeMartino, President and Chief Financial Officer
203-859-6810
ICR Inc.
William Schmitt
203-682-8200