Costar Technologies, Inc. Appoints Scott Switzer as Company President and CEO

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Coppel, Texas, June 2, 2022 /PRNewswire/ — Costar Technologies, Inc. (the “Company”) (OTC Markets Group: CSTI) today announced that its Board of Directors has appointed Scott Switzerland as President and Chief Executive Officer of the Company. Mr. Switzer has served as interim President and CEO of the company since April 2020.

Sally WashlowChairman of the Board, said, “Scott has managed Costar extremely well over the past two years and has been instrumental in shaping the strategic direction of the organization. He skilfully guided us through a particularly difficult period in the global economy. core values ​​and I am confident that he will provide the leadership and expertise needed to drive the business forward. »

“This is a pivotal time in Costar’s history, and I am honored that the Board has placed their trust in me to guide us through it. I do not take this responsibility lightly,” said Switzerland. “I am extremely pleased to be named permanent President and CEO and look forward to continuing to work with this incredible team to create meaningful long-term value for our shareholders.”

Prior to being named interim President and CEO in April 2020Mr. Switzer served as the company’s Chief Operating Officer from 2018 to April 2020and as Chief Financial Officer and Corporate Secretary from 2011 to April 2020.

Mr. Switzer began his career with the company in 2001 and became Controller in 2008 after previously serving in the same role with Costar Video Systems, LLC. Prior to joining the company, he was a consultant at Accenture. Mr. Switzer holds a BBA from the Hankamer School of Business in Baylor University.

About Costar Technologies, Inc.

Costar Technologies, Inc. develops, designs, manufactures and distributes a product line of security solutions including surveillance cameras, lenses, digital video recorders and high-speed domes. The Company also develops, designs and distributes machine vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting defects in the production process. Based at Copell, TX, the Company’s shares are currently trading on the OTC Markets Group under the symbol “CSTI”. Costar was ranked 40e the largest company in a&s magazine’s Security 50 ranking for 2020. Security 50 is the magazine’s annual ranking of the world’s largest security manufacturers in CCTV, access control and intruder alarms, based on turnover.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the Company’s ability to grow its revenues and earnings, which are subject to substantial risks and uncertainties that could cause actual performance or results to differ materially. of those expressed or implied by the forward-looking statements. statements, including, but not limited to, risks relating to the ability to diversify into vertical markets, obtain new customers and launch new products. You can often identify forward-looking statements by words such as “believe”, “may”, “estimate”, “go”, “anticipate”, “intend”, “plan”, “expect”. , “predict”, “potential”. ,” or the negative form of these terms or other comparable terminology. These forward-looking statements are based on management’s current expectations, but involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in forward-looking statements due to risks and uncertainties.

You should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting the forward-looking information, except to the extent required by applicable law.

SOURCE Costar Technologies, Inc.

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