Announcement • Jan 07
Nixxy, Inc. Announces Board Changes
Nixxy, Inc. announced that effective on December 31, 2024, each of Wallace D. Ruiz, Deborah Leff and Steve Pemberton (collectively, the “Resigning Directors”) resigned as members of the Board. None of the Resigning Directors’ resignations were due to their desire to pursue other activities, and not due to any disagreement with the Company. Effective, January 1, 2025, the Company appointed Elsa Sung as a member of the Board, and as chairwoman of the Company’s Audit Committee. Elsa Sung, 50, has over 20 years of corporate financial and accounting experience, including serving as the chief financial officer of a Nasdaq-listed company. Since February 2017, she has been a managing member of Canvas Group, Inc, a boutique financial advisory and business consulting firm. From April 2013 until December 2019, she worked as a senior executive advisor in the areas of international business development and mergers and acquisitions for Zhongmai Group. From May 2007 to January 2013, Ms. Sung was Senior Vice President of CFO Oncall, Inc., providing chief financial officer and consulting services to various companies. She also served as Chief Financial Officer of Jiangbo Pharmaceuticals, Inc. from October 2007 until March 2011. Ms. Sung was an Audit Manager from September 2005 to May 2007 at Sherb & Co., responsible for managing, monitoring, as well as performing audits for domestic and international clients. From September 2002 to July 2005, Ms. Sung was with Ernst & Young, LLP as a Senior Auditor in the Assurance and Advisory Business Service Group. She received her Master of Business Administration and Bachelor of Science, in accounting from Florida Atlantic University. She also holds a Bachelor of Arts in Sociology from National Chengchi University in Taipei, Taiwan. She earned a CPA license in the state of Georgia (inactive). Effective January 1, 2025, the Company appointed David Kratochvil as a member of the Board. David Kratochvil, 59, has over thirty years of Wall Street experience ranging from venture capital, private equity and emerging market equity investing to investment banking and structuring tax-advantaged deals. Since January 2017, Mr. Kratochvil has served as the managing partner Vista Capital Advisors where he consults on various projects and serves as an outsourced CFO for early-stage companies. Additionally, since April 2024, he has served as the chief financial officer of Pertexa Health Tech Inc. From April 2023 until April 2024, he served as chief financial officer of Northann Corp. Since January 2020, he has also served as Managing Director of Kenmar Securities, LLC, an investment banker focusing on life science, technology and real estate transactions. From January 2019 until December 2021, Mr. Kratochvil was CEO of Ikigai Biotech Group, Inc., a developing biotech company focused on using 3D bioprinting to tackle T1 diabetes and kidney disease. From June 2017 until December 2019, he worked at Oberon Securities as a Managing Director focusing on healthcare and life science transactions. From 2015 until 2017, he served as chief financial officer of VolitionRx . From 2008 until 2015, he served as Managing Director in the corporate finance department at Euro Pacific Capital, Inc. From 1997 until 1999, he served as portfolio manager at Omega Advisors. From 1994 until 1997, he served as director at Merrill Lynch Asset Management. Mr. Kratochvil holds an MBA in finance and international business from the University of Chicago's Booth School of Business and a B.S. in Economics from The Wharton School at the University of Pennsylvania. He holds FINRA 7, 24, 63, 79, 86 and 87 registrations. The company announced the appointment of Debra Chen Volpone as a member of the Board, effective immediately. With over 20 years of senior executive and consulting experience, Ms. Volpone has driven shareholder value for more than 300 publicly traded companies through capital markets strategy, corporate development, and investor communications. In her new role, she will leverage her expertise to drive digital transformation and pioneer the Company's roadmap for 2025. Ms. Volpone brings a wealth of experience in capital markets, corporate governance, and global business leadership to her role as CEO. Most recently, she served since 2013 as Director for a leading, Los Angeles-based boutique corporate communications firm. Previously, she was president of Oxford Metrica, a UK-based financial consulting firm specializing in board advisory, due diligence for M&A, and risk analytics for banks, insurers, and asset managers. Earlier in her career, she was executive officer of Nasdaq-listed China Cablecom Holdings, where she played a pivotal role in driving shareholder value and operational growth. From 2008 to 2011, she served as president of China Networks International Holdings, a publicly traded media company that provided global advertising services. Ms. Volpone is founder of Icon Media, a strategic consultancy serving clients in U.S. and global markets. Initially, she began her career on Wall Street at Lehman Brothers and JP Morgan, where she specialized in global derivatives and currency swaps. She earned her B.S. in Finance from Binghamton University's School of Management and studied accounting at the University of Melbourne. Additionally, she completed the Harvard Business School's executive program, focusing on corporate boards.