AYRO Appoints David E. Hollingsworth as Chief Financial Officer

Rhea-AI Summary

AYRO announces the appointment of David E. Hollingsworth as Chief Financial Officer, effective August 23, 2022. Hollingsworth, who previously served as interim CFO since January 2022, brings 16 years of financial experience, having improved reporting and inventory controls during his tenure. CEO Tom Wittenschlaeger expressed confidence in Hollingsworth's ability to support the company's growth strategy within the Low Speed Electric Vehicle industry, particularly with the upcoming AYRO Z platform. Hollingsworth holds an MBA and a bachelor's in accounting.

Positive

• David E. Hollingsworth's appointment as CFO is expected to bring continuity in financial leadership.
• Hollingsworth's experience in financial management is anticipated to aid in accelerating company growth.

Negative

• None.

ROUND ROCK, TX / ACCESSWIRE / August 24, 2022 / AYRO, Inc. (NASDAQ:AYRO) ("AYRO" or the "Company"), a designer and manufacturer of electric, purpose-built delivery vehicles and solutions for micro distribution, micro mobility, and last-mile delivery, announces the appointment of David E. Hollingsworth as the Company's Chief Financial Officer (CFO), effective August 23, 2022. Mr. Hollingsworth brings deep financial reporting and accounting experience spanning 16 years, including most recently as the interim CFO at the Company since January 2022.

"Dave has proven himself as a finance leader who brings strategic thought and a deep knowledge of financial accounting, treasury, enabling systems infrastructure, and reporting," noted Tom Wittenschlaeger, AYRO CEO. "I look forward to continuing the work we started, with Dave's support in executing our product development and growth strategy in the Low Speed Electric Vehicle industry, beginning with our new AYRO Z platform."

Mr. Hollingsworth began his time at AYRO as a financial consultant. During his tenure he established financial controls over reporting and inventory, including new system integration and staffing reorganization. He instituted a companywide analysis to resolve issues related to past operational and financial direction with an aim to to streamline process, improve deliverables, reduce expenditures, and improve critical outcomes.

Prior to his role as the interim CFO at AYRO, Mr. Hollingsworth served in various financial leadership capacities, including roles as Controller and Director of Accounting at Wondercide, Sunworks, Inc., and CPI Products. He has also served in a consulting capacity at Bridgepoint Consulting and APH, Inc. and spent several years with Marriott International. Mr. Hollingsworth holds a master's degree in business administration from Weber State University and a bachelor of science degree in accounting from Brigham Young University - Idaho.

"I look forward to continuing to work with Tom and the rest of the leadership team. I believe our strategy, culture, and seasoned staff find us uniquely positioned to capitalize on our next-generation, purpose-built, electric utility vehicle roadmap. I believe my financial management experience in the public and private sector will be extremely useful in helping accelerate the Company's growth," added Mr. Hollingsworth.

About AYRO, Inc.
Texas-based AYRO, Inc. designs and produces all-electric, purpose-built vehicles sourced that are powered by technology and usable by anyone. Driven by insight gained from partners, customers, and research, AYRO delivers sustainable e-delivery solutions that empower organizations to enable sustainable fleets that extend both their brand value and exceptional user experience throughout the delivery process. For more information, visit: www.ayro.com.

For investor inquiries:
CORE IR
investors@ayro.com
516-222-2560

SOURCE: AYRO, Inc.

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https://www.accesswire.com/713302/AYRO-Appoints-David-E-Hollingsworth-as-Chief-Financial-Officer

FAQ

Who is the new CFO of AYRO as of August 2022?

David E. Hollingsworth has been appointed as the new CFO of AYRO, effective August 23, 2022.

What experience does David E. Hollingsworth bring to AYRO?

Hollingsworth has 16 years of financial reporting and accounting experience, including his recent role as interim CFO at AYRO.

What will David E. Hollingsworth focus on as AYRO's CFO?

He will support the execution of AYRO's product development and growth strategy in the Low Speed Electric Vehicle industry.

When did David E. Hollingsworth become interim CFO of AYRO?

He served as the interim CFO since January 2022 before being appointed as the permanent CFO.

What is the significance of the AYRO Z platform?

The AYRO Z platform is part of the company's strategy to expand its offerings in the Low Speed Electric Vehicle market.