BIG NEWS! CRONIN IS STEPPING DOWN (FINALLY)TORONTO, ON – August 18, 2020 –– Patriot One Technologies Inc. (TSX: PAT) (OTCQX: PTOTF) (FRANKFURT: 0PL) (“Patriot One” or the “Company) announces that Martin Cronin, the Company’s Chief Executive Officer (CEO) and one of its early founding members, will be stepping down from his position as CEO. Having overseen the successful rollout of the PATSCAN™ Multi-Sensor Threat Detection Platform and the commencement of initial sales of the product, Mr. Cronin will remain CEO and a Board Member until his replacement has been found, after which he will remain on the Board in an advisory role spearheading new technologies and partnership opportunities. The Company has initiated its search for a new CEO with sales and business development experience as the Company moves from the start-up phase to full scale operations.
“We’re extremely proud of the accomplishments Martin has achieved and pleased that he will remain on the Board as an advisor in such a critical area for our growth,” expressed Peter van der Gracht, Patriot One’s Chairman of the Board. “Martin has been instrumental in leading Patriot One’s substantial fundraising efforts, as well as the initial sales of the PATSCAN Platform these past four years. His leadership, business focus and personal drive has positioned the Company for great success in this new fiscal year, and beyond.”
“It’s been a rewarding experience leading Patriot One on this path from concept to product launch and I’m proud to have been part of the team,” shared Martin Cronin. “The Board and I agree that it is the right time for this thoughtful succession process, and I am committed to supporting a smooth transition for the benefit of all of our stakeholders. As in every start-up in today’s economy, my departure is part of a natural evolution in corporate leadership. Now it is about sales execution and scaling. The addition of our new COO and President Dietmar Wennemer was the first step in this process which was followed up by the hiring of our new CFO, Karen Hersh. The search for a CEO with demonstrated growth-stage experience will complement and round out our new leadership group and I look forward to working with this new C-Suite team and the Board as the Company continues its mission to save lives and improve the way of life for our communities.”