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Vert Infrastructure reshuffles board, appointing new CFO and interim CEO

The company said that its CEO, Arif Merali, will step down from the position but remain as an independent board member

Board room
One of the new directors, Alnoor Nathoo, will serve as interim CEO

Vert Infrastructure Corp (CSE:VVV) (OCTMKTS:CRXPF) has reshuffled its board and is plotting a new direction, with David Whitney appointed as its chief financial officer and two new directors named, including Alnoor Nathoo who is to become its interim CEO.

Vert, which is engaged in the branding, investing, constructing, owning and leasing of infrastructure for licenced and permitted specialty agricultural businesses, noted that Whitney previously served as the CFO and a director of fintech firm RentMoola Payment Solutions for over four years until March 2020 and has experience in financial reporting and advisory consulting.

READ: Vert Infrastructure cancels $0.10 a unit private placement, names interim CFO

The company -  formerly known as CROP Infrastructure Corp - also said that its CEO, Arif Merali, who had also been acting as interim CFO, will step down from the positions but remain as an independent board member, with Nathoo to serve as interim CEO in his place.

It pointed out that Nathoo previously served as principal of a privately held hotel development company for two decades which has developed and sold numerous hotels across Canada, while the other new director, Rahim Mohamed currently serves as chief executive of Softlab9 Software Solutions Inc (CSE: SOFT) and is a member of the Private Capital Markets Association of Canada.

“The newly appointed management and directors will be evaluating the assets of VERT and providing a corporate update in the upcoming days and plotting a direction for the company”, the group added in a statement.

On April 15, Vert revealed that its CFO Abbey Abdiye and director Victoria Bostica had resigned, effective immediately. Merali was then named interim CFO.

Vert also said on Tuesday that it expects to release its annual filings results on or about June 12, 2020.

Quick facts: Vert Infrastructure Corp.

Price: 0.025 CAD

CSE:VVV
Market: CSE
Market Cap: $286.65 k
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