FalconStor Software Names Vincent Sita as Chief Financial Officer

New appointment sets the company up for strong execution in 2022 and beyond

FalconStor Software, Inc. (OTCQB: FALC), the trusted data protection software leader modernizing disaster recovery and backup operations for the hybrid cloud world, today announced that the company has appointed Vincent Sita as chief financial officer. Sita has more than two decades of experience, having worked both in publicly listed and privately held companies, with the past few being spent as a finance consultant and finance executive in medium-sized businesses. In his role at FalconStor, Sita will report to CEO Todd Brooks and will oversee the company’s financial matters, including finance, accounting, tax, treasury, and investor relations.

Throughout his career, Sita has been a leader in finance, having spent 17 years in various finance roles at Bell Canada and the better part of a decade with ACN, the largest direct selling telecommunications and essential services provider in the world, as vice president of finance, North America. The past few years, he was a consultant working with several companies on strategic and value-added initiatives such as market expansion, operational and system integrations, and change management.

“I am pleased to join FalconStor as the company capitalizes on the huge market opportunity for hybrid cloud data protection solutions, both in the end user and the managed service provider (MSP) community,” said Vincent Sita. “I will be collaborating with the worldwide team of FalconStor experts and partners to continue the work they have done in this very important growth phase of the company and make sure we create value for shareholders while supporting our expanding customer base.”

“I am glad that Vincent is joining the FalconStor family and we have his guidance as we execute on our two-pronged strategy to deliver hybrid cloud data protection. He will be an essential member of the executive team as we focus our efforts on enabling managed service providers as our primary channel that we have articulated in 2020 and 2021,” said Todd Brooks, CEO of FalconStor. “With Vincent’s arrival and thanks to his extensive expertise in subscription-based businesses, we remain in an excellent position to drive our strategy forward and deliver for our worldwide partner and shareholder communities.”

About FalconStor

FalconStor is the trusted data protection software leader modernizing disaster recovery and backup operations for the hybrid cloud world. The company enables enterprise customers and managed service providers to secure, migrate, and protect their data while reducing data storage and long-term retention costs by up to 95 percent. More than 1,000 organizations and managed service providers worldwide standardize on FalconStor as the foundation for their cloud first data protection future. The company’s products are offered through and supported by a worldwide network of leading managed service providers (“MSPs”), systems integrators, resellers, and original equipment manufacturers (“OEMs”). To learn more, visit www.falconstor.com and stay connected with us on YouTube, Twitter, and LinkedIn.

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