Bakkt Appoints Karen Alexander Chief Financial Officer

Rhea-AI Summary

Bakkt Holdings, Inc. (NYSE: BKKT) announced the appointment of Karen Alexander as Chief Financial Officer, effective immediately. She has served as Interim CFO since May 23, 2022, after being Chief Accounting Officer since the company’s business combination in October 2021. With over 16 years of experience at GE Capital and earlier roles at Arthur Andersen and Ernst & Young, Alexander's knowledge of the company’s financials is expected to drive future growth. This leadership change is crucial as Bakkt continues to enhance its digital asset platform and loyalty-driven initiatives.

Positive

• Appointment of Karen Alexander as CFO expected to enhance financial strategy and operations.
• Alexander brings extensive industry experience and familiarity with company operations.

Negative

• Concerns about continuity with a new CFO in a rapidly changing market.

Interim Chief Financial Officer Assumes Chief Financial Officer Role

ALPHARETTA, Ga.--(BUSINESS WIRE)-- Bakkt Holdings, Inc. (NYSE: BKKT) a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients, announced that Karen Alexander, Interim Chief Financial Officer, is appointed Chief Financial Officer of Bakkt. Ms. Alexander assumed the role of Interim Chief Financial Officer on May 23, 2022 and previously served as Chief Accounting Officer of Bakkt.

“I’m pleased to welcome Karen into the role of Chief Financial Officer,” said Gavin Michael, President & CEO of Bakkt. “With Karen’s expansive industry experience and intimate knowledge of our company financials, she is perfectly suited to continue driving Bakkt forward with the same momentum.”

Ms. Alexander began serving as the Chief Accounting Officer of the company in connection with the closing of its business combination with VPC Impact Acquisition Holdings in October 2021, after serving in the same position with Bakkt Holdings, LLC (the company’s predecessor) since June 2021.

Prior to joining the company, Ms. Alexander worked at GE Capital from October 2004 to April 2021 in finance and accounting roles of increasing responsibility, most recently serving as Global Technical Controller from January 2017 to April 2021.

Ms. Alexander began her career as an external auditor with Arthur Andersen LLP and Ernst & Young LLP. She holds a bachelor’s degree in accounting from Miami University (Ohio).

About Bakkt:

Bakkt is a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients. Bakkt’s platform, available through the Bakkt App and to partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/

Bakkt-C
Source: Bakkt Holdings, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220809006001/en/

Media

Lauren Post, Head of Communications

Lauren.Post@bakkt.com

Investor Relations

Ann DeVries, Head of Investor Relations

Ann.DeVries@bakkt.com

Source: Bakkt Holdings, Inc.

FAQ

Who is the new Chief Financial Officer of Bakkt Holdings, Inc.?

Karen Alexander has been appointed as the new Chief Financial Officer.

When did Karen Alexander assume the role of Chief Financial Officer for Bakkt?

Karen Alexander assumed the role of Chief Financial Officer immediately with the announcement.

What experience does Karen Alexander bring to her role as CFO?

Karen Alexander has over 16 years of experience in finance and accounting, including roles at GE Capital and as Chief Accounting Officer at Bakkt.

What was Karen Alexander's role before becoming CFO of Bakkt?

Before becoming CFO, Karen Alexander was the Interim Chief Financial Officer and previously served as Chief Accounting Officer.

What impact could the leadership change have on Bakkt's financial strategy?

The leadership change may bring new perspectives and strategic direction to Bakkt's financial operations.