Business
Duos Technologies Appoints Rail Industry Veteran Frank Lonegro to Board of Directors
Former CFO at Class 1 Rail Operator CSX Brings Over 20 Years of Public Company Leadership Experience JACKSONVILLE, Fla. , July 19, 2023 (GLOBE NEWSWIRE) --
About this update from Duos Technologies Group, Inc.
[{"type":"text","content":"Former CFO at Class 1 Rail Operator CSX Brings Over 20 Years of Public Company Leadership Experience\nJACKSONVILLE, Fla. , July 19, 2023 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), through its operating subsidiary Duos Technologies, Inc. a provider of vision based analytical technology solutions, has appointed rail industry veteran Frank Lonegro to its Board of Directors. With a 30-year professional career spanning leadership roles in finance, law, technology and operations, Mr. Lonegro enjoyed a long and distinguished career at CSX Corporation (Nasdaq: CSX) starting in 2000 as Assistant General Counsel and serving in various senior executive roles including Chief Financial Officer from 2015 to 2019. He currently serves as the Chief Financial Officer for Beacon Roofing Supply (Nasdaq: BECN), a Fortune 500 distributor of roofing materials and complementary building products such as siding and waterproofing. Mr. Lonegro will serve as an independent Director of Duos, replacing Ed Harris who served on Duos Board until November 2022. His addition to the Duos Board brings the board composition back to five total directors, four of whom are independent. During his tenure at CSX, Mr. Lonegro was a prominent advocate for rail safety. He led CSX’s Positive Train Control (“PTC”) initiative from 2008 to 2015, and represented the industry in several Congressional and regulatory hearings. Mr. Lonegro has a proven track record of driving shareholder value, spearheading major initiatives, navigating complex environments and transforming organizations. His depth of experience will contribute significantly to the Duos Board. “I am delighted to welcome Frank to our Board,” said Chuck Ferry, Duos CEO. “Emerging, high-growth companies are well served by Board members like Frank, who have the expertise necessary to mentor senior management and the vast industry knowledge to help guide and propel our growth in an industry as important and complex as rail. I look forward to working with Frank as Duos continues its growth trajectory and benefitting from his hands-on approach to sharing his deep industry knowledge.” “On behalf of the entire Duos organization, I would like to formally welcome Frank to our Board,” said Company Board Chair Kenneth Ehrman. “Frank brings decades of leadership experience in key a...