Stratus Media Group Appoints Seymour Siegel as Independent Director & Chair of Audit Committee
LOS ANGELES--(BUSINESS WIRE)-- Stratus Media Group, Inc. (OTCQB:SMDI), a global live events company, announced today the appointment of Seymour G. Siegel as an Independent Member of its Board of Directors and Chairman of its Audit Committee. He replaces Jerry Rubinstein as Chairman of the Audit Committee. Having become Chairman and CEO of Stratus Media in June of 2012, Mr. Rubinstein is no longer an independent board member and was obliged to step down from the audit committee.
Mr. Siegel is a CPA, inactive, and a principal at Rothstein Kass, a national firm of accountants and consultants, where he is a trusted advisor to business owners and responsible for business introductions. Mr. Siegel was a founder of Siegel Rich & Co. CPA's, which eventually merged with WeiserMazars LLP, a large regional firm. He was a senior partner there until selling his interest and co-founding a business advisory firm, which later became a part of Rothstein Kass. He has been a director and officer of numerous businesses, philanthropic and civic organizations. As a professional director, he has served on the boards of about 10 public companies over the last 20 years, generally as audit committee chairman. He is currently a director and chairman of the audit committees of Hauppauge Digital, Inc., Air Industries Group, Inc., and Premier Alliance Group, Inc.
"It would be difficult to find anyone more qualified than Seymour to serve as Chairman of our Audit Committee. As we gear up for growth at Stratus Media, it is important that we put all the necessary corporate governance structures in place. We are excited about our upcoming business initiatives and we will benefit from Seymour's expertise while we execute on our plans," stated Stratus Media Group Chairman and CEO, Jerry Rubinstein.
ABOUT STRATUS MEDIA GROUP
Headquartered in Los Angeles, California, Stratus Media Group, Inc. (SMDI) is an owner, operator, developer, producer, and marketer of live entertainment events. The company's 95% owned subsidiary ProElite, Inc. produces and promotes mixed martial arts events, one of the fastest growing sports. In addition, the company owns Stratus White, a new standard in personal lifestyle and card services for the global affluent. Available by invitation only, Stratus White is a discreet, elite member & partner community providing exclusive and unparalleled service and access across the luxury product & travel, social, sporting, cultural and philanthropic areas of life, including events and experiences.
Statements in this press release relating to plans, strategies, projections of results, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Acts of 1933 and 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors. Although the company's management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance or achievements. The company has no obligation to update these forward-looking statements.
Stratus Media Group
Billy Kelly, Chief Operating Officer
310-526-8700 Ext. # 3
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