Charge Enterprises Names Leah Schweller Chief Financial Officer

Rhea-AI Summary

Charge Enterprises Inc. (OTC PINK:CRGE) has appointed Leah Schweller as Chief Financial Officer, effective September 13, 2021. Leah brings over 25 years of financial experience, including significant roles at American Express and Deloitte & Touche. She aims to enhance financial reporting and controls while supporting a future Nasdaq listing. Additionally, Andrew Fox, the company's founder and CEO, will become Chairman of the Board, succeeding Kenneth Orr. This leadership change aligns with Charge's vision to expand its electric vehicle charging and telecommunications infrastructure.

Positive

• Appointment of Leah Schweller as CFO brings extensive financial experience.
• Focus on robust internal controls and financial reporting could enhance shareholder value.
• Leadership change aligns with the strategic vision for growth.

Negative

• The company has yet to achieve a Nasdaq listing, indicating a potentially longer path to enhanced visibility and liquidity.

• Fills management role with deep finance and leadership experience
• Founder and CEO Andrew Fox Named Chairman of the Board of Directors

NEW YORK, NY / ACCESSWIRE / September 15, 2021 / Charge Enterprises Inc. (OTC PINK:CRGE), ("Charge" or "the Company"), consisting of a portfolio of global businesses with the vision of connecting people everywhere with communications and electric-vehicle charging ("EV") infrastructure, has named Leah Schweller, Chief Financial Officer effective September 13, 2021. Leah is an accomplished financial professional with over 25 years of experience, including 15 years of public company tenure. Ms. Schweller will lead Charge's financial operations, investor relations, banking and advisory relationships.

"We looked for someone exceptional to join Charge as our first CFO, and Leah's record of accomplishment is outstanding," said Charge's CEO Andrew Fox. "She is an energetic leader with deep experience in financial analysis, auditing, mergers and acquisitions, technical and operational accounting, external reporting, and staff development and management. We are very excited to have Leah on the team, and the Board joins me in warmly welcoming her to Charge."

Ms. Schweller comes to Charge from American Express' Finance organization, where she held positions of increasing seniority. Serving as Vice President, she led large global teams responsible for SEC reporting, credit reserving, technical accounting, securitization, and overall financial integrity, and also held the position of Chief Accounting Officer for an SEC filing subsidiary for 4 years. Prior to American Express, she worked in M&A Transaction Services and Audit at Deloitte & Touche.

Leah Schweller commented, "I am very excited to join Charge at this formative moment in its public company trajectory and to help drive its opportunity to connect and power the electric infrastructure of the future. My immediate focus will be on ensuring resilience in accounting and robust internal controls over financial reporting, as well as effective financial integration of acquisitions, to drive value to shareholders over the long term and support a Nasdaq listing in the short term."

Ms. Schweller earned a Bachelor of Science in Business Administration-Accounting from Ohio State University. She is a current supporter and was active in the formation of New Heights Youth, Inc., a non-profit sports-based youth development and educational organization based in New York City.

Consistent with Charge's succession plans, we are pleased to announce that our current CEO and Founder, Andrew Fox, will assume the position of Chairman of the Board of Directors effective Tuesday, September 14, 2021. Andrew succeeds Kenneth Orr, who shall remain as an advisor to the Company.

Kenneth Orr commented, "Andrew has delivered on his promise to assemble an all-star team to execute Charge's vision, and with this now in place I will once again focus on KORR's investment advisory business. I am so excited for all that is to come for Charge and so proud to have helped the company get to this point."

Andrew and the Charge Executive Team will lead the Company with a strong culture, focused on intelligent growth with sustainable value for our stakeholders and employees alike.

About Charge Enterprises Inc.

Charge Enterprises Our Company consists of a portfolio of global businesses with the vision of connecting people everywhere with communications and electric-vehicle charging ("EV") infrastructure. We believe the rise of new developing technologies in both industries offers us a unique growth opportunity. Our strategy focuses on acquiring businesses with operations geared toward such technologies' development to revolutionize the telecommunications and EV infrastructure industries with our global portfolio.

Our Telecommunications Division
Our Telecommunications division ("Telecommunications") has provided termination of both voice and data to Carriers and Mobile Network Operators (MNO's) globally for over two decades and we will selectively add profitable products and services to this long-established business.

Our Infrastructure Division
Our Infrastructure division ("Infrastructure") has a primary focus on two fast growing sectors: EV charging, and Telecommunications Network 5G, including cell tower, small cell, and in-building applications. Solutions for these two sectors include: Design and Engineering, Equipment specification and sourcing, Installation, Data & software solutions, and Service and Maintenance.

Our Investment Division
Our Investment division ("Investment") focuses on opportunities related to our global portfolio to expand our vision's impact. We aim to invest in opportunities that would complement our two operating divisions in addition to marketable securities, including money markets funds and other listed securities. Our Investment division provides services aimed at offsetting the overall cost of capital.

We offer our Investment services through our wholly-owned subsidiary, Charge Investments ("CI").

Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Charge Enterprises, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Charge Enterprises, Inc. cautions you that any forward-looking information provided by or on behalf of Charge Enterprises, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Charge Enterprises, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Charge Enterprises, Inc.'s control. In addition to those discussed in Charge Enterprises, Inc.'s press releases, public filings, and statements by Charge Enterprises, Inc.'s management, including, but not limited to, Charge Enterprises, Inc.'s estimate of the sufficiency of its existing capital resources, Charge Enterprises Inc's ability to raise additional capital to fund future operations, Charge Enterprises, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Charge Enterprises, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Charge Enterprises, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

CONTACT:
LHA Investor Relations
Carolyn Capaccio, C
ccapaccio@lhai.com
212.838.3777

SOURCE: Charge Enterprises Inc.

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FAQ

What is the recent leadership change at Charge Enterprises (CRGE)?

Leah Schweller has been appointed as Chief Financial Officer, and Andrew Fox has become Chairman of the Board.

What experience does Leah Schweller bring to Charge Enterprises (CRGE)?

Leah Schweller has over 25 years of finance experience, including significant roles at American Express.

When did Leah Schweller start as CFO of Charge Enterprises (CRGE)?

Leah Schweller's appointment as CFO became effective on September 13, 2021.

What are Charge Enterprises' goals under the new leadership?

The company aims to improve financial reporting, internal controls, and support a future Nasdaq listing.

Who is the new Chairman of Charge Enterprises (CRGE)?

Andrew Fox, the founder and CEO, has been named the Chairman of the Board.