FAVO Group, LLC as Manager of FAVO Capital, Inc. Appoints Vaughan Korte as New Chief Financial Officer
FAVO Capital has appointed Vaughan Korte as its new Chief Financial Officer, succeeding Paul Norman. Korte, who has over 17 years of finance experience, previously held a senior role at Adidas overseeing finance for 60 countries. CEO Vincent Napolitano expressed enthusiasm about Korte joining the team, citing his past advisory role. This leadership change aims to strengthen FAVO's internal processes and enhance shareholder value through improved risk management and strategic initiatives.
- Vaughan Korte's extensive finance experience, particularly in retail and technology, could enhance company operations.
- Korte's previous advisory role suggests familiarity with FAVO's business model and growth strategy.
- Transitioning to a new CFO may create temporary disruptions in executive leadership continuity.
WESTBURY, NY / ACCESSWIRE / October 13, 2021 / FAVO Capital (OTC Pink:FAVO) is pleased to announce the appointment of Vaughan Korte as its new Chief Financial Officer replacing Paul Norman.
Mr. Korte is a Senior Finance Professional with over 17 years' experience within the retail and technology sectors. He most recently spent 10 years with Adidas in various roles and ended his time there as Senior Director of Finance for Middle East and North Africa, where he was responsible for all Financial Department activities across 60 countries.
Vincent Napolitano, CEO, stated, "We are very excited to have Vaughan Korte join our Senior Executive Team. He has been working with us for the past two years in an advisory capacity and when the opportunity presented itself for Vaughan to join the team on a full-time basis, we acted quickly to secure him.
Vaughan Korte stated "It's an exciting time for FAVO and I am delighted to be joining the vastly experienced Senior Executive Team. A huge amount of work has already been done and I am looking forward to further executing on the company's existing plan and adding value to the continued success alongside the rest of the team"
Shaun Quin, President added, "As Vincent mentioned, Mr. Korte has been an important advisor to the company the past two years and I have had the pleasure of working closely with him over the past two months on the internal review of our Business Processors, Systems and Infrastructure to support the business on its current growth path. We have reviewed our Risk Management Policies, analysed relationships with our key partners and ultimately integrated Mr. Korte's strengths and expertise into our business model to create long-term shareholder value.
More About FAVO Capital, Inc.:
FAVO CAPITAL is a Direct Funding Company, which provides customized, short-term funding to small and mid-sized businesses nationwide. FAVO Realty is a Real Estate Investment Company which invests in a diversified portfolio of quality commercial real estate properties throughout the United States. "FAVO" is "Honeycomb" in Latin - The Honeycomb (Hexagon) is the most efficient shape in the universe. FAVO intends to be Efficient, Flexible & Durable. www.favocap.com
More About FAVO Group, LLC:
FAVO GROUP, LLC is the External Manager of FAVO Capital Inc. (FAVO - OTC Markets). They were founded by a Group of Capital Market, Finance, Real Estate and Business professionals with over 100 years of collective experience and have transacted in over
CONTACT:
Email: info@favogrp.com.com
Tel: 833.328.6477
Safe Harbor/Forward-Looking Statements
This press release contains certain forward-looking statements including, but not limited to, statements, estimates, and projections of future trends and of the anticipated future performance constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, including, without limitation, statements regarding the Series' expectations, beliefs, or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," or similar language. These forward-looking statements concern the Company's operations, economic performance and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results may differ materially from expected results. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of this press release FAVO Capital, Inc and its Management Team expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements, unless specifically required by law or regulation
SOURCE: FAVO Group, LLC and FAVO Capital, Inc
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