A popular retail investor stock is falling after-hours Tuesday.
Vinco Ventures Inc. announced its CEO and Chairman Christopher Ferguson has resigned from the company, effective Oct. 25, 2021.
Brett Vroman, the company’s chief financial officer, has also resigned, effective Nov. 4, 2021.
The company announced Lisa King will serve as its new CEO and president beginning Oct. 25. She comes to the company with over 25 years of experience in marketing and branding.
The company also announced Stephen Garrow as its chief operating officer, effective Oct. 25 and Philip Jones was named new CFO beginning Nov. 4.
Four additional directors for the company, Louis Foreman, Frank Jennings, Mary Ann Halford, and Kevin J. O’Donnell announced their resignation from the company, effective Oct. 19, 2021.
Why It’s Important
Sept. 15 marked the proxy record date for shareholders needing to own Vinco shares in order to receive shares of spinoff Cryptyde.
Cryptyde is expected to go public later on with ticker TYDE in the form of a dividend. Vroman will become CFO of Cryptyde.
Vinco Ventures stock is down 20 percent to $6.22 in after-hours trading. Shares have traded between $1.11 and $12.49 over the last 52 weeks.
By Chris Katje
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