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Ecoark Holdings Announces New Corporate Strategy, Will Rebrand as Zest Technologies
Ecoark Holdings Announces New Corporate Strategy, Will Rebrand as Zest Technologies.
About this update from Riskon International, Inc.
[{"type":"text","content":"\n \n Ecoark \n Holdings, Inc. (“Ecoark”) (OTCQX: EARK) today announced that its \n Board of Directors has unanimously approved a new corporate strategy and \n management change. The company is transitioning from a diversified \n holding company into a company focused solely on its Zest \n Labs asset. Zest Labs provides a growing suite of freshness \n management solutions that substantially improve quality consistency and \n drive sustainability for a wide range of clients that are searching for \n a solution to the $161 \n billion amount of food loss the U.S. experiences each year. The \n Company previously announced that it was exploring strategic \n opportunities related to Zest Labs. As a result of this effort, the \n Board unanimously determined the best approach was for Ecoark to rebrand \n all aspects of its company to Zest – including renaming the Company \n “Zest Technologies,” and changing its stock ticker symbol from EARK to \n ZEST – in the coming months.\n \n \n As a result of the new focus and related corporate strategy changes:\n \n \n \n Ecoark Founder and Chairman Randy May has rejoined the company \n full-time and has been named CEO\n \n \n Jay Puchir, current CEO of Ecoark, has been appointed CFO\n \n \n Charles Rateliff, current CFO of Ecoark, will transition to a company \n advisor\n \n \n Peter Mehring, CEO of Zest Labs, has been named President of Ecoark in \n anticipation of rebranding to Zest Technologies. Mehring will remain \n CEO of Zest Labs\n \n \n The company will explore divesting all non-core holdings and will \n appropriate all proceeds toward working capital for Zest Technologies\n \n \n \n “After extensive exploration of all strategic options related to Zest \n Labs, including a potential spin-off of the company, it became clear \n that the best way to ensure maximum shareholder value and capitalize on \n our main asset was to make it our sole focus,” stated Randy May. “By \n focusing solely on Zest, and our mission of modernizing the fresh food \n supply chain through technology, everyone is 100 percent aligned and \n focused on driving revenue from retail grocers, their key suppliers and \n their distribution partners to ensure we maximize the huge market \n opportunity in front of us.”\n \n \n Zest Labs enables retailers to signifi...