DGSE Announces Appointment of new Chief Executive Officer
DGSE Companies, Inc. (NYSE MKT: DGSE) today announced that it has appointed James J. Vierling to serve as its Chief Executive Officer, President and as Chairman of the Board. Mr. Vierling replaces Mr. William H. Oyster in these positions. Since 2009, Mr. Vierling, 50, has been the President of SBT, Inc., DBA Southern Bullion Coin & Jewelry (“SBT”), a now-wholly-owned subsidiary of DGSE. Prior to September 14, 2011, Mr. Vierling was a part owner of SBT with NTR Metals, LLC, our largest vendor and largest shareholder. SBT was acquired by DGSE on September 14, 2011 in an acquisition from NTR Metals, LLC, Mr. Vierling and the other members of SBT. As President of SBT, Mr. Vierling grew that company into a 23-location, highly successful operation. During this growth, Mr. Vierling implemented numerous policies, procedures, systems and controls, many of which DGSE has now adopted. Mr. Vierling has been instrumental in advising on the process of assembling DGSE’s new management team and coordinating the restatement process. Prior to his involvement with SBT, from 2005 until 2009, Mr. Vierling was Chief Marketing Officer and Strategic Planner of A-1 Premium Acceptance, an installment loan company. Mr. Vierling holds a BA in Economics from the University of Missouri. He graduated in 1984.
About DGSE Companies, Inc.
DGSE Companies, Inc. wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Bullion Express, Charleston Gold & Diamond Exchange, Dallas Gold & Silver Exchange, and Southern Bullion Coin & Jewelry operations. DGSE also owns Fairchild International, Inc., one of the largest vintage watch wholesalers in the country. In addition to its retail facilities in Alabama, Florida, Georgia, Illinois, North Carolina, South Carolina, Tennessee and Texas, the Company operates internet websites which can be accessed at www.bullionexpress.com, www.dgse.com, www.cgdeinc.com, and www.sbcoin.com. Real-time price quotations and real-time order execution in precious metals are provided on another DGSE website at www.USBullionExchange.com. Wholesale customers can access the full vintage watch inventory through the restricted site at www.FairchildWatches.com.
The Company is headquartered in Dallas, Texas and its common stock is listed on NYSE MKT Exchange under the symbol "DGSE."
This press release includes statements which may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
DGSE Companies, Inc.
James J. Vierling, 972-484-3662
Chairman and CEO