Karen Young Promoted to Chief Financial Officer at GlobalSCAPE

[2] (NYSE American: GSB[3]),
a worldwide leader in the secure movement and integration of data, today
announces the promotion of Karen Young to Chief Financial Officer,
effective immediately. Young was appointed to the role of Interim Chief
Financial Officer in March of this year, and succeeds James Albrecht,
who retired in February. Young has served as the Controller for the past
three years, reporting to Albrecht, and now reports to GlobalSCAPE CEO,
Matt Goulet.

Young joined GlobalSCAPE in 2015 and has been responsible for all
accounting functions, including financial planning and budgeting,
preparation of financial statements, SEC reporting, management of
audits, supervision of accounting functions and tax preparation. Young
has also been extremely instrumental in navigating the recently
concluded audit committee investigation and financial statement audit.
In her role as Interim CFO, Young was responsible for ensuring that
GlobalSCAPE regained compliance with NYSE American continued listing
standards, and also responsible for the remediation plan designed to
strengthen GlobalSCAPE’s internal controls over financial reporting.

“Since joining GlobalSCAPE, Karen has made significant contributions to
the Company, first in her role as Controller, and then as Interim Chief
Financial Officer; taking on increased scope and complexity, and
establishing and managing a world-class controllership,” said Matt
Goulet, president and CEO of GlobalSCAPE. “During her tenure, Karen has
been a key leader within Finance, and has played a pivotal role in
GlobalSCAPE financial operations, leading us through the very
challenging audit committee investigation.”

“With her combination of experience and leadership skills, as well as
her thorough knowledge of GlobalSCAPE’s financial operations, Karen was
the obvious choice as our new CFO. Karen is a great addition to the
executive team and has the full confidence of me, our newly expanded
Board, and the entire GlobalSCAPE organization,” added Goulet.

Young will direct all fiscal functions of the corporation, ensure
compliance with generally accepted accounting principles and SEC
regulations, oversee the audit and review function, and assist the
executive management team in establishing long-range goals, strategies,
plans and policies.

“I am excited to take on increased responsibilities and move into the
role of CFO at GlobalSCAPE,” said Young. “I look forward to joining the
GlobalSCAPE executive team, and to partnering with the team to develop
and implement business strategies that enhance the Company’s position as
a market leader and add value for our stakeholders; including our
investors, employees and customers.”

Young is a Certified Public Accountant and a graduate of The University
of Texas at San Antonio with a BBA in Accounting. With over 25 years as
a financial professional, Young began her career with Valero Energy
Corporation in San Antonio. Prior to joining GlobalSCAPE, Young was the
Controller for PIC Business Systems, Inc., and across her career, has
served in a variety of finance and accounting roles.

About GlobalSCAPE

GlobalSCAPE, Inc. (NYSE American: GSB[4])
is a pioneer in securing and automating the movement and integration of
data seamlessly in, around and outside your business, between people and
places, in and out of the cloud. GlobalSCAPE provides technology that
automates your work and secures your data, while giving visibility to
those who need it. GlobalSCAPE makes business flow brilliantly. For more
information, visit http://www.GlobalSCAPE.com[5]
or follow the blog[6]
and Twitter[7]

Safe Harbor Statement

This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. The words “would,” “exceed,”
“should,” “anticipates,” “believe,” “expect,” and variations of such
words and similar expressions identify forward-looking statements, but
their absence does not mean that a statement is not a forward-looking
statement. These forward-looking statements are based upon the Company’s
current expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could cause
actual results to differ significantly from those expressed or implied
by such forward-looking statements are risks that are detailed in the
Company’s Annual Report on Form 10-K for the year ended December 31,
2017 filed with the SEC on June 14, 2018; the discovery of additional
information relevant to the internal investigation; the conclusions of
the Company’s Audit Committee (and the timing of the conclusions)
concerning matters relating to the internal investigation; the
possibility that additional errors relevant to the recently completed
restatement may be identified; pending litigation and other proceedings
and the possibility of further legal proceedings adverse to GlobalSCAPE
resulting from the restatement or related matters; and the costs
associated with the restatement and the investigation.


  1. ^ (www.businesswire.com)
  2. ^ GlobalSCAPE, Inc. (cts.businesswire.com)
  3. ^ GSB (cts.businesswire.com)
  4. ^ GSB (cts.businesswire.com)
  5. ^ http://www.GlobalSCAPE.com (cts.businesswire.com)
  6. ^ blog (cts.businesswire.com)
  7. ^ Twitter (cts.businesswire.com)
1 2 3