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Synergy Resources Announces New Senior Leadership Appointments

Synergy Resources Announces New Senior Leadership Appointments

NEW YORK – March 30, 2020 – Synergy Resources, a leading provider of manufacturing solutions and services, today
announced a planned leadership transition through which Paul Tedford, who has served as Synergy’s Executive Vice President of
Sales & Marketing, has been named Chief Executive Officer. Additionally, Michael Medved who has served as Synergy’s Executive
Vice President of Technology and Cloud ERP, has been named Chief Operating Officer. Gene Caiola, who has served as a
Managing Partner and CEO since 1994, has been named Chairman of Synergy’s Board of Directors and will serve as Chief Financial Officer.

Paul Tedford has been with Synergy for over 15 years, first heading up Customer Solution Support and then managing all Sales and Marketing activities. Paul was instrumental in driving Synergy’s portfolio of manufacturing solutions, helping grow the company from $6 million in annual revenue, to nearly $20 million.

“I feel very fortunate to be part of such a great team at Synergy,” said Paul, “Gene’s guidance and leadership helped shape this company into a market leading provider of solutions and services for small and medium sized manufacturers. Our vision is to build on Synergy’s impressive trajectory by continually evolving our range of SaaS and On-Premise ERP solutions as well as our Ecosystem and Smart Factory products. These solutions and services will allow our customers to achieve quick and material ROI, continuously improve their operations, and enjoy the support of our first-class service at every step of their journey.”

Mike Medved has been with Synergy since 1999 and has headed up all aspects of its Business Technology division including his
recent assignment to develop and grow its Cloud-based ERP implementation services. These efforts have made Synergy an elite
technology firm within the ERP space and has provided its customers with more options. Mike also manages Synergy’s Product
Development and Application Development teams.

“The vision and pace that Gene has set for this management team is very exciting,” said Mike, “Manufacturing is clearly embracing Smart Factory principles and we are there, right now, engaging with our customers to improve operations across all aspects of manufacturing.

Gene Caiola’s tenure as CEO has seen accelerated growth and expansion of Synergy into new product solutions and services
offerings. This has included the development of cloud-based environments for its traditional On-Premise solutions and the
onboarding of multi-tenant ERP and manufacturing solutions.

Gene said, “I’m extremely proud of the team’s accomplishments during my tenure as CEO. It is the right time to evolve our executive leadership as we continue to drive innovation in the industry. Paul and Mike are both very talented leaders and I look forward to working with them and our experienced team as Chairman. I will remain closely tied to this team during the COVID-19 situation. After this event I am confident that this new leadership team will take Synergy to the next level of growth, successfully implement our business strategy, and take advantage of the market opportunities ahead. Synergy has great people and is poised for growth in its unique mission as the first manufacturing solutions company to offer the broad spectrum of capabilities that we have to the manufacturing industry.”

Download the Press Release here.
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