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RYVYL Appoints Mary Lay Hoitt as Interim Chief Financial Officer
SAN DIEGO, CA, March 09, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL” or the "Company"), a company that leverages the security of the
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[{"type":"text","content":"SAN DIEGO, CA, March 09, 2023 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) (\"RYVYL” or the \"Company\"), a company that leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation to conduct payment transactions, today announced that it has appointed Mary Lay Hoitt, CPA, as Interim Chief Financial Officer of the Company, replacing J. Drew Byelick who has resigned. Mary Lay Hoitt is an accomplished financial executive with over 25 years in CFO and VP of Finance roles serving both public and private firms, from early-stage start-ups to global companies with annual revenues of over $300 million. Her industry experience includes high-tech and medical device manufacturing, computer software, supply chain management, and commercial and residential property management. Mary has restructured and turned around numerous distressed entities, including 3 mergers and 1 management buy-out within the U.S., and 8 acquisitions and 3 divestures for European and South American corporations. She successfully helped raise more than $50 million in PIPE financing for several public companies and over $20 million of equity capital for various private firms. She is a partner in the San Diego office of SeatonHill Partners, LP the nation’s fastest-growing CFO services firm, offering elite fractional and interim CFO talent, as well as project based financial leadership. “Mary is an experienced, highly respected leader with a strategic financial mindset to support RYVYL in our process of restating previously issued financial statements and filing our upcoming 2022 year end Annual Report,” said Ben Errez, Chairman of RYVYL Inc. “We welcome her to the position and are pleased to have someone of her caliber and financial skill set serve as our Interim CFO. I’m confident that Mary’s demonstrated success in leading finance departments of companies in complex, highly competitive industries, will help us deliver for our shareholders. On behalf of our board and management team, I would also like to thank Drew for his service and contributions to RYVYL.” About RYVYL RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging unique blockchain security and USD-pegged stablecoin ...