NEW YORK, Nov. 30, 2020 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (NYSE:HCHC), a diversified holding company, announced today its Board of Directors has appointed Wayne Barr, Jr. as Chief Executive Officer, effective as of November 25, 2020. Mr. Barr, 56, has been serving as interim Chief Executive Officer since June 2020 and as a director since 2014.

Avie Glazer, Chairman of the Board of Directors of HC2, said, “Wayne has done an excellent job guiding HC2 and taking the steps needed to focus our portfolio and enhance our capital structure, including the completion of our recent $65 million rights offering. Wayne knows our assets and our people, and is the clear choice to lead the Company forward.”

“I am excited about the opportunity to continue to lead our talented team forward,” said Mr. Barr. “We’re making substantial progress focusing our business for profitability and growth, and sustainably strengthening our capital structure to create value for our stockholders.”

In addition to serving as interim CEO, Mr. Barr has been a director of HC2 since 2014. Mr. Barr served as President and CEO of CCUR Holdings, Inc. (OTCQB: CCUR) from March 2019 to June 2020, and is also a member of the Board of Directors of Alaska Communications Group, Inc., (NASDAQ: ALSK). Mr. Barr founded Oakleaf Consulting Group LLC, a management consulting firm focusing on technology and telecommunications companies, in 2001. Mr. Barr also co-founded and was president from 2003 to 2008 of Capital & Technology Advisors, a consulting and restructuring firm. Mr. Barr has previously served on the Boards of Directors of several companies, including most recently as a director of Aviat Networks, Inc. (NASDAQ: AVNW) from November 2016 to November 2018. Mr. Barr received his J.D. degree from Albany Law School of Union University and is admitted to practice law in New York State.

About HC2

HC2 Holdings, Inc. is a publicly traded (NYSE:HCHC) diversified holding company, which seeks opportunities to acquire and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. HC2 has a diverse array of operating subsidiaries across multiple reportable segments, including Infrastructure, Clean Energy, Life Sciences, Spectrum, Insurance and Other. HC2’s largest operating subsidiary is DBM Global Inc., a family of companies providing fully integrated structural and steel construction services. Founded in 1994, HC2 is headquartered in New York, New York. For more information, please visit www.hc2.com.