Heritage Global Promotes Executives Ludwig and Dove to President Positions

Heritage Global, an asset services company specializing in financial and industrial assets, promoted senior executives in the Company’s financial assets and industrial assets divisions._x000D_
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Heritage Global promoted David Ludwig, previously president of heritage national loan exchange, and Nick Dove, formerly executive vice president at Heritage Global Partners, to newly formed executive positions. Ludwig is assuming the role of president, financial assets division, and Dove is being appointed president, industrial assets division._x000D_
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“I am proud to announce the promotions of David and Nick to lead our financial assets and industrial assets divisions. Both individuals have meaningfully contributed to the success of Heritage Global over the years, and I’m confident they will continue to help drive the Company forward,” Ross Dove, CEO of Heritage Global, said._x000D_
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Separately, effective January 1, 2021, Kirk Dove, chief operating officer and president of Heritage Global, will be transitioning to a new role: founding partner and senior advisor. Following the transition, Ross Dove will assume the title of president in addition to serving as CEO of Heritage Global, with the executive management team also including Scott West, CFO, James Sklar, executive vice president, general counsel and secretary, Nick Dove and David Ludwig._x000D_
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“Kirk Dove began this journey with us and guided us since our inception in a long and challenging effort to where we have now arrived on the NASDAQ. We give our heartfelt thanks for Kirk’s leadership, counsel and production. We look forward to many more years of his counsel, guidance and business acumen in his new role as we move forward together.” Allan Silber, chairman of the board and Ross Dove, CEO, jointly stated._x000D_
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Board member Morris Perlis has informed the company that he will not seek reelection to the board when his term expires in 2021. The Board expects to add a new member at the next Annual Shareholder Meeting._x000D_
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Heritage Global is an asset services company specializing in financial and industrial assets.