Stemtech Announces New Chief Administrative Officer

Rhea-AI Summary

Stemtech Corporation has appointed Mr. I. Tufan Obuz as Chief Administrative Officer (CAO), a key addition to the executive management team. Mr. Obuz, a CPA, will oversee global accounting and finance activities, ensuring compliance and operational efficiency. This strategic hire aims to strengthen financial resources and improve reporting compliance for the publicly traded company (OTCQB:STEK). CEO Charles Arnold emphasized Mr. Obuz's extensive experience, which will benefit Stemtech's global operations. The company, founded in 2018, specializes in stemceutical products and has seen significant growth since transitioning to public trading in 2021.

Positive

• Appointment of Tufan Obuz as CAO expected to strengthen financial resources and controls.
• Focus on compliance and operational efficiency with international coordination.
• Positive leadership changes aimed at enhancing reporting compliance for public trading.

Negative

• None.

Stemtech Corporation Announces New Chief Administrative Officer Joins Executive Management Team

MIRAMAR, FL / ACCESSWIRE / April 21, 2023 / STEMTECH CORPORATION - (OTCQB:STEK) announces Mr. I. Tufan Obuz as Chief Administrative Officer (CAO)

Stemtech is pleased to announce the engagement of Mr. I. Tufan Obuz, CPA, who has joined Stemtech Corporation in the newly created position of Chief Administrative Officer (CAO), reporting to the President & COO. Tufan will be responsible for all global accounting and finance department activities and their integration for financial planning and reporting purposes. Effective immediately, Claude Ayache (Vice President of Stemtech HealthSciences Corp), the Corporate Accounting Team, and all global financial staff, external and internal accounting support, will report directly to Tufan. His role will include interfacing with our external audit preparation support team plus our PCAOB auditors. His role will also include working with each country, and HQ, for all matters related to compliance, internal controls, operational efficiency, and internal policies and procedures.

Charles S. Arnold, CEO of Stemtech says "Tufan brings a wealth of finance, accounting and project management experience which will strengthen our financial resources and controls. Our global enterprise will benefit from his abilities and knowledge to enhance the Company's reporting compliance as a publicly traded company".

John W. Meyer, President and Chief Operating Officer, comments that "I look forward to the addition of Tufan to our team, filling a key role in our Company structure with focus on the complexities that come along with coordinating several international locations, compliance with local regulations and consolidating financial information."

ABOUT STEMTECH
Stemtech Corporation, a leading stemceutical™ company with a direct sales distribution model, was founded on April 18, 2018, after acquiring the operations from its predecessor Stemtech International, Inc., which was established in 2005. From 2010 through 2015, Stemtech International, Inc., was recognized four separate times on the Inc. 5000 Fastest-Growing Companies list. In 2018, Stemtech underwent an extensive executive reorganization, and continued operations under new leadership as Stemtech Corporation. In August 2021, Stemtech became a publicly traded company (OTCQB:STEK) and has expanded business opportunities for its Independent Business Partners, who may earn incomes by sharing Stemtech products. January 2022 saw the introduction of new marketing efforts. In August 2022, Professor Doctor Bankole Johnson joined Dr. Enrique Martinez and Dr. Lizette Leos on the Stemtech Life Sciences Advisory Board. In September 2022, the new Stemtech AdvanceOffice mobile app based on the VERB Technology platform was successfully launched as a powerful communication - recruiting tool for our Field. In October, Life Factor Research became the Research and Development, product formulation - science division of Stemtech to create cutting-edge stemceuticals and other products. On November 1, 2022, Stemtech introduced the new travel/sample size OraStem® Toothpaste. On December 6, Stemtech announced the promotion of Alejandro Carrillo to the role of Vice President Global Sales from his current role as Managing Director Latin Markets. Stemtech introduced the new CellectOne™ Rapid Renew Stem Cell Peptide Night Cream at their December 2022 International Leadership Event in Cancun, Mexico. January 10 2023 Stemtech appoints Margie and Mike Mares to Field Advisory Board. Last month, Stemtech Ranked Number 11 in Momentum out of 700+ top Global MLM companies by Business For Home independent MLM publication, January 23, 2023.

Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on November 23, 2022. We undertake no duty to update any forward-looking statement, or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Stemtech Corporation which are condoned by the Company must emanate from the Company itself and bear our name as its Source.

www.Stemtech.com

Investor Relations:
Phone: 954-715-6000 ext 1040
Email: invrel@stemtech.com

SOURCE: Stemtech Corporation

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https://www.accesswire.com/750527/Stemtech-Announces-New-Chief-Administrative-Officer

FAQ

Who is the new Chief Administrative Officer of Stemtech Corporation?

Mr. I. Tufan Obuz has been appointed as the Chief Administrative Officer of Stemtech Corporation.

What responsibilities does the new CAO of Stemtech have?

Tufan Obuz will oversee global accounting, finance department activities, compliance, and operational efficiency.

When was Tufan Obuz appointed as CAO of Stemtech?

Tufan Obuz was appointed as CAO effective immediately on April 21, 2023.

What is the stock symbol for Stemtech Corporation?

The stock symbol for Stemtech Corporation is STEK.

How does the new CAO impact Stemtech Corporation’s financial reporting?

The new CAO is expected to enhance financial reporting compliance as a publicly traded company.