Wrap Technologies, Inc. Appoints Scot Cohen as Chief Executive Officer

TEMPE, Ariz., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) (“Wrap” or the “Company”), a global leader in public safety innovation via artificial intelligence (“AI”), virtual reality and big data, today announced the appointment of Scot Cohen as its new Chief Executive Officer (CEO). Mr. Cohen, a co-founder of the Company, the largest shareholder, and Executive Chairman of the Company, is recognized for his deep commitment to the Company's mission and extensive experience in various industries.

Mr. Cohen stated, “The time has come to complete what Woody Norris, the inventor of BolaWrap, and I began in 2015. I'm ready to assume full responsibility for the organization, prioritizing top-line growth, recruiting and leading top talent, and optimizing costs through strategic outsourcing. This will enable a sharper focus on sales while reducing overall expenses.”

Since its founding in 2016, Mr. Cohen has been a cornerstone of Wrap, leading all rounds of financing, totaling $90M, and playing a crucial role in shaping the Company’s strategic direction. With over thirty years of experience building businesses and recruiting top talent in the institutional asset management and capital markets industries, Mr. Cohen is exceptionally qualified to navigate the Company into a future of expansion into new markets including commercial and private security.

Mr. Cohen's proven leadership in Wrap spans more than just financial aspects. As the longest-standing board member, he has also been an essential force in driving Wrap’s focus on wellness. His dedication to mental health and wellness extends to his philanthropic efforts, running a charitable foundation dedicated to providing mental health support, coaching, and education to law enforcement and government officials.

The Company is also delighted to announce the appointment of Kevin Mullins as President. In his time as the Company’s Chief Executive Officer, Kevin’s substantial contributions have been instrumental to Wrap's success, and his continued involvement in this new role will bring invaluable leadership and insight. The Company expresses its appreciation for his many achievements and looks forward to his ongoing contribution in this pivotal role.

Mr. Cohen said, “I want to thank Kevin Mullins for his dedication to Wrap, which has put us in a great position for continued success. As Chief Executive Officer, I am honored to lead Wrap into the future. The passion, insight, and resilience I've gained from watching my father and brother serve in public safety will be invaluable and empowering in my role as CEO. Talent onboarding is key to our growth. Our comprehensive platform, encompassing devices, training, data, AI, and wellness, is essential for serving communities globally. Our work will enhance physical and mental safety, with higher purpose policing and safety benefiting all of the Wrap community, and humanity. Through this work, I hope our children’s children will experience the positive change we plan to effect.”