VERB Appoints Salman Khan as Interim Chief Financial Officer

Fortune 500 NYSE experienced finance veteran to strengthen senior management team and lead VERB’s finance department

NEWPORT BEACH, Calif. and SALT LAKE CITY, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (Nasdaq: VERB) ("VERB" or the "Company"), the leader in interactive video-based sales enablement applications, including interactive livestream eCommerce and shoppable video, webinar, CRM, and marketing applications for enterprises and entrepreneurs, today announced the appointment of Salman Khan as Interim Chief Financial Officer effective immediately.

Mr. Khan joined VERB in May 2021 as Executive Vice President, Corporate Development and Strategic Planning. He has more than 20 years of domestic and international finance, accounting and audit experience. Most recently, Mr. Khan held various leadership roles at NYSE-listed companies Occidental Petroleum Corporation ("OXY") and its spin-off California Resources Corporation ("CRC"). During his time at OXY and CRC, Mr. Khan served as a business division Chief Financial Officer, led the companies’ corporate development and finance initiatives, and established an ESG focused renewable energy business. Previously, he spent eight years in audit and advisory services at Ernst & Young, PricewaterhouseCoopers, and Arthur Andersen, where he served domestic and international clients in the technology, media, telecommunications, entertainment, and biotechnology industries. Mr. Khan holds a Master of Business Administration degree from the University of Michigan, Ross School of Business and is a licensed chartered certified accountant (UK).

“We are very pleased to welcome Salman into his new role at VERB,” said Rory J. Cutaia, CEO of VERB. “He has been instrumental in the successful execution of our recently announced financing, and has provided valuable strategic advice and idea generation, including mergers and acquisitions, financial management and business planning since he joined us last year. We look forward to Salman’s strong financial leadership and business acumen as we continue to grow VERB with innovative products that we expect will set new paradigms in video-based social selling and create greater shareholder value. I also would like to thank Jeff Clayborne for his contributions over the past five years and wish him well in his future endeavors. Jeff will remain as a consultant to assist in the transition.”

“I am excited to be appointed the Interim CFO at VERB,” said Mr. Khan. “I have scaled finance and accounting organizations of an entrepreneurial company, closed and integrated many acquisitions, and grown revenues organically from bootstrap to multi-billion dollars. I am very excited about the long-term growth prospects of VERB as its world-class technology drives the growth of our business. I look forward to continuing to partner with Rory and the executive team in executing VERB’s strategic goals, and executing its plans for profitability and greater shareholder value.”

About VERB

Verb Technology Company, Inc. (Nasdaq: VERB), the market leader in interactive video-based sales applications, transforms how businesses attract and engage customers. The Company’s Software-as-a-Service, or SaaS, platform is based on its proprietary interactive video technology, and is comprised of a suite of sales enablement business software products offered on a subscription basis. Its software applications are used by hundreds of thousands of people in over 60 countries and in more than 48 languages. VERB’s clients include large sales-based enterprises as well as small business sales teams, including the sales and marketing departments of professional sports teams. Of note is its forthcoming MARKET, a multi-vendor, multi-presenter, livestream social shopping platform at the forefront of the convergence of ecommerce and entertainment. With approximately 200 employees, the Company is headquartered in American Fork, Utah, and it also maintains offices in Newport Beach, California. 

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FORWARD-LOOKING STATEMENTS

This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “anticipate,” “expect,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements contained in this press release relate to, among other things, the Company's projected financial performance and operating results, including SaaS Recurring Revenue, as well as statements regarding the Company's progress towards achieving its strategic objectives, including the successful integration and future performance of acquisitions. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to the COVID-19 pandemic and related public health measures on our business, customers, markets and the worldwide economy; our plans to attract new customers, retain existing customers and increase our annual revenue; the development and delivery of new products, including verbLIVE; our plans and expectations regarding software-as-a-service offerings; our ability to execute on, integrate, and realize the benefits of any acquisitions; fluctuations in our quarterly results of operations and other operating measures; increasing competition; general economic, market and business conditions. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by these forward-looking statements. Investors are referred to our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

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Released January 24, 2022