Wednesday Winner: A legacy brand’s journey to relist
Hanger has had many ups and downs since it was founded in 1861. But when Seth Frank joined as vice president of treasury and investor relations in 2018, the company had fallen from grace.
Between 2014 and 2016, the company detected accounting errors that led to delayed filings and ultimately a delisting from the NYSE in 2016. The stock price crashed and much of the board of directors as well as the financial leadership and accounting organization were ultimately replaced.
Frank joined in 2018 as the company was beginning to get on top of its reporting and processes again. What followed was 12 months of restating backdated financials and annual reports, several rounds of roadshows (for what Frank calls a ‘zero capital-raise IPO’) and a campaign to rebuild the credibility of the brand.
In this video, Frank, whose work was recognized with the best investor engagement award at the IR Magazine Awards – Small Cap US last year, talks about the journey he went on with his management team, how they worked to re-establish the trust of their analysts and investors and how the IR program has evolved since Covid-19.
This is the eighth episode in our new socially distanced video series, where we profile award winners from around the world. If there’s a particular award winner or award category you would like to see profiled, please email [email protected].