Algorhythm Holdings Appoints Kapil Gupta and Scott Thorn to its Board of Directors

Highly-accomplished leaders bring proven expertise in growth, innovation, and AI-driven transformation to support company’s next phase of expansion

Fort Lauderdale, FL, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME), a leading AI technology company, today announced the appointment of Scott Thorn and Kapil Gupta to its Board of Directors. Their combined experience in scaling high-growth companies, guiding operational transformation, and driving adoption of cutting-edge technologies will further strengthen the company’s governance and strategic leadership as it accelerates growth in AI-powered freight logistics.

Kapil Gupta is a seasoned global technology and business leader with more than 25 years of experience driving innovation, digital transformation, and operational excellence. Kapil is a Sr. Partner at IBM, he currently serves as Service Line Leader for Application Operations – Public Markets (US), where he oversees mission-critical application services for U.S. public-sector clients. Earlier in his career, Kapil has held global leadership roles at multiple organizations including Suzuki India and KPMG.

Scott Thorn is an entrepreneurial-minded executive with more than 20 years of experience building and transforming businesses across diverse industries. He currently serves as President & COO of InvitedHome, a leading luxury hospitality and real-estate services company in premier U.S. ski destinations. Previously, he co-founded and served as Chief Strategy Officer of Open Book Extracts, cGMP-certified manufacturer of premium federally legal hemp-derived cannabinoid ingredients and wellness products, where he grew the company to a valuation exceeding $100 million. Earlier in his career, he served as a Managing Director at Douglas Wilson Companies, a leading provider of specialized business, receivership, and real estate services, where he led court-appointed fiduciary and restructuring efforts for several hundred distressed businesses and real-estate projects involving more than $4 billion in non-performing debt.

“Scott and Kapil each bring exceptional expertise in leading organizations through periods of rapid growth and transformation,” said Gary Atkinson, CEO of Algorhythm Holdings. “Kapil’s leadership in deploying & supporting large enterprise systems with generative AI solutions at scale for large organizations is especially relevant as we continue advancing SemiCab’s collaborative logistics platform. Their insight and operational rigor will be invaluable as we pursue our mission to build long-term shareholder value and transform freight logistics.”

About Algorhythm Holdings

Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth and development of SemiCab, an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab’s AI platform, shippers pay less and carriers make more without having to change a thing.

For additional information, please go to: http://www.semicab.com

Investor Relations Contact:
Brendan Hopkins
407-645-5295
investors@algoholdings.com
www.algoholdings.com

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm’s reports to the SEC, including, without limitation Algorhythm’s Annual Report on Form 10-K for the year ended December 31, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.

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