Save Foods, Inc. (SVFD) stock gained in the current market after announcing its sec filing. Save Foods, Inc. (SVFD) stock values at $4.55 in the current market, gaining more than 9.93% from the previously closed value. At the end of the last trading session, the stock of SVFD closed at $4.14. The stock traded volume in the previous trading session was around 33.85K shares.
Reason for SVFD stock gain
Save Foods, Inc. (SVFD) announced the sec filing on January 19, 2022. The filing concerns the resignation or election of directors, the appointment of Officers, Compensation of Officers, and Chief Financial Officer Resignation.
Ms Vered Raz-Avayo, former and departing Chief Financial Officer of Save Foods, submitted her resignation to the BoDs on January 16, 2022. Mme Raz-Avayo resigned for personal reasons and had no disputes with the Company or the Board.
The Board appointed Mr. Omri Kanterovich as interim Chief Financial Officer, VP of Finance, Treasurer, and Secretary on January 18, 2022.
Considering Mr. Kanterovich’s new duties, the Board increased his monthly base compensation from 18,000 to 25,000. Mr. Kanterovich’s pay remained unchanged.
The company appointed Mr. Kanterovich as interim Chief Financial Officer for no other reason. The interim CFO has no relation with the Save Foods directors, executive officers, or Mr. Kanterovich. There is no history of the transaction between the new CFO and the company.
The effect on the stock gain
The company’s stock gained massively following the news of its managerial changes. The investors expect the company to find its permanent CFO soon and contribute to its growth.
Conclusion
The interim CFO will steer the company’s direction at the company’s current growth rate. They will provide their services until the company announces its permanent CFO. The company expects the interim CFO to achieve the required tenure goals until the new CFO is announced. The interim CFO is experienced and has years of industry experience.
