Harte Hanks announced that the New York Stock Exchange, or NYSE, provided notice that it accepted the company's plan for continued listing. As a result, the company's common stock will continue to be listed on the NYSE, subject to quarterly reviews by the NYSE to ensure progress toward its plan to restore compliance with continued listing. The notice from NYSE has no immediate impact on the listing of the company's common shares, which will continue to be listed and traded on the NYSE during the cure period, subject to the company's compliance with other listing requirements of the NYSE. The company will be subject to periodic review by the NYSE to determine whether the company is making progress consistent with the accepted plan. If the company does not make progress consistent with the plan during the plan period, the NYSE may initiate delisting proceedings.
Harte-Hanks (HHS) announced the appointment of Mark Del Priore as CFO, effective immediately. Del Priore succeeds Jon Biro, who decided to step down from the role and has agreed to remain with the company through February 28, to help facilitate a transition. Del Priore joined Harte Hanks in November 2018 as its CRO. Prior to joining the company, Del Priore was CFO at SITO Mobile (SITO).
Harte-Hanks announced the hiring of Bant Breen as CEO and the promotion of Andrew Harrison to the role of president and COO, effective immediately. Harte-Hanks created an interim "Office of the CEO" in September 2018 as it mapped out plans for the company's future growth and leadership. The selection of Breen and Harrison is the culmination of this transitional phase, providing the leadership team to return Harte-Hanks to growth and profitability. Breen, who has been a member of the Harte-Hanks board since June 2018, is a marketing leader and entrepreneur. He was most recently the founder, chairman and CEO of Qnary. Harrison is a veteran of Harte-Hanks with over 20 years at the company and over 25 years in business services. Harrison played a critical leadership role as a member of the temporary Office of the CEO that oversaw the company's day-to-day operations, focusing on overall business performance and development of the turnaround strategy.
Harte Hanks announced that it was notified on October 31, 2018 by the New York Stock Exchange, Inc. that it was not in compliance with NYSE's continued listing standards because the company's average market capitalization was less than $50M over a consecutive 30 trading-day period and the stockholders' equity of the company was less than $50M. As set forth in the Notice, as of October 26, 2018, the 30-trading day average market capitalization of the company was approximately $42.9M and the company's last reported stockholders' deficit as of June 30, 2018 was approximately ($7.3M).