CreditRiskMonitor announced that its Board of Directors has appointed Michael Flum, the Company's President and Chief Operating Officer, as CreditRiskMonitor's next Chief Executive Officer. Mr. Flum will assume leadership of the Company effective May 1st, 2023. In addition to his appointment as CEO, he will retain the position of President.

The announcement culminates an orderly succession plan by the Board of Directors that accommodates Jerry Flum's decision to take a step back from day-to-day management responsibilities after more than 24 years as CEO and Chairman. Jerry Flum will remain involved in the management of the Company as Executive Chairman and stand for re-election to the Board as Chairman. Michael Flum, 36, joined the Company in June 2018 as Vice President of Operations & Alternative Data.

He was appointed Chief Operating Officer in October 2019 and subsequently President in October 2020. He is responsible for operational strategy and implementation of processes to improve the efficiency of human capital and company performance. Prior to joining CreditRiskMonitor, Mr. Flum served as Vice President of Operations at Gullett & Associates, Inc. from 2016-2017.

Mr. Flum held various engineering and project management roles at Enterprise Products Partners, a Houston-based midstream oil & gas owner/operator from 2009 to 2016. During his time in the energy sector, Mr. Flum managed the completion of pipeline and plant projects totaling more than $1.3 billion. Mr. Flum holds an M.B.A. from Columbia Business School as well as a B.S. in Mechanical Engineering and a B.A. in Religious Studies from Rice University.