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Acacia Research Appoints Martin (“MJ”) D. McNulty, Jr. to Board of Directors, Named Permanent CEO
NEW YORK--(BUSINESS WIRE)-- Acacia Research Corporation (Nasdaq: ACTG) today announced that Martin (“MJ”) D. McNulty, Jr. has been named as Acacia’s
About this update from Acacia Research Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nAcacia Research Corporation (Nasdaq: ACTG) today announced that Martin (“MJ”) D. McNulty, Jr. has been named as Acacia’s permanent Chief Executive Officer. Mr. McNulty has been serving as the Company’s Interim Chief Executive Officer since November 1, 2022.\n\n\nIn addition, the Board of Directors expanded the size of the Board from six to seven directors, and the Board appointed Mr. McNulty as a director of the Company to serve until the Company’s 2024 annual meeting of stockholders.\n\n\n“The Board is extremely grateful for MJ’s contributions as Interim Chief Executive Officer and believes he is the right leader for the company going forward,\" commented Gavin Molinelli, Acacia’s Chairman. \"Since being appointed to his interim role, MJ has worked closely with the Board while spearheading Acacia’s efforts to build a top-notch team and execute on the company's acquisition strategy. The Board is confident that MJ possesses the unique skillset, leadership and strategic vision to lead Acacia forward. We look forward to continuing to work with MJ to create value at the Company.”\n\n\nAbout the Company\n\n\nAcacia is a publicly traded (Nasdaq: ACTG) company that is focused on acquiring and operating attractive businesses across the industrial, healthcare, energy, and mature technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon. Acacia operates its businesses based on three key principles of people, process and performance and has built a management team with demonstrated expertise in research, transactions and execution, and operations and management. Additional information about Acacia and its subsidiaries is available at www.acaciaresearch.com.\n\n\nSafe Harbor Statement\n\n\nThis news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon the Company’s current expectations and speak only as of the date hereof. This news release attempts to identify forward-looking statements by using words such as “anticipate,” “believe,” “could,” “expect,” “intend,” “m...