Business
Aluf Holdings Announces Termination of Chief Executive Officer and the Initiation of a Search for a New Chief Executive Officer F
Aluf Holdings Announces Termination of Chief Executive Officer and the Initiation of a Search for a New Chief Executive Officer F.
About this update from Aluf Holdings, Inc.
[{"type":"text","content":"FORT LAUDERDALE, FL., August 21, 2023 : Aluf Holdings, Inc. (OTC PINK: AHIX) today announced that the Board of Directors of the Company has terminated Sam M. Jakobs, the Chief Executive Officer of the Company, effective August 1, 2023. According to his employment agreement, Mr. Jakobs was an “at will” employee and was therefore terminated without cause. Mr. Jakobs’ termination is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto. He will not receive any severance payment and Aluf’s previously announced plans to acquire BizzUniverse and Bizz Shield Pro have also been terminated.In order to ensure continuity going forward, the Company has appointed a leadership group to share the duties of the office of the CEO until a new leader is named. Those appointed include: Teresa McWilliams, Chief Financial Officer, Dr. Aditya Ganguli, CPA, Director of Corporate Affairs and M&A, and Larry G. Striggles, Director of Accounting and Financial Reporting.About Aluf Holdings, Inc.Aluf Holdings, Inc. is a publicly traded holding company headquartered in Ft. Lauderdale, FL, engaged in acquiring, operating, and managing subsidiary companies in the development and sale of proprietary software and technology solutions. Our key strategy is to build a larger and more diverse company through strategic and managed acquisitions and growth. The company operates in three segments; business solutions, technology solutions, and life solutions with our core focus that includes biometrics, software, and hardware verticals. For more information go to www.aluf.com.Safe Harbor Statement:This release includes \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that f...