Business
RealBiz Media Group (Verus Foods) Announces Corporate Update
RealBiz Media Group (Verus Foods) Announces Corporate Update.
About this update from Verus International, Inc.
[{"type":"text","content":"\n\n NEW YORK, NY , Dec. 13, 2017 (GLOBE NEWSWIRE) -- RealBiz Media Group, Inc. (OTCQB: RBIZ) currently operating as Verus Foods (“Verus” or the “Company”) is providing the following interim update in advance of its fiscal year-end report.\n Effective December 15, 2017, Mark Lindsey resigned as Chief Financial Officer (“CFO”) of the Company. Mr. Lindsey’s resignation was not the result from any disagreement with the Company, any matter related to the Company’s operations, policies or practices, the Company’s management or the Board. As a result, the Company has named industry veteran Piyush Munot as interim CFO. Mr. Munot, who is a U.S.-accredited CPA, has an extensive background uniquely suited to building Verus’s international business. As a former KMPG professional and senior auditor, he was involved in a full range of financial activities with companies throughout the Gulf Cooperation Council (“GCC”) countries. Most recently, he served as a Group Controller at Al Dahra Holding, a major food and agricultural firm in the region. “I recommended to Anshu that he should establish a stronger presence in Dubai where financial controls are most critical at this stage in the company’s business cycle,” explained Mr. Lindsey. “I helped hire Piyush and have suggested that the Company use an interim CFO based in the region until growth necessitates a full-time CFO in Maryland. It is unfortunate that continued delays have prevented the Company from growing at a pace that would warrant my ability to stay, but I believe this new, more cost-effective structure will be better suited for Verus at this early stage. The Company should be in very capable hands with Piyush onboard.” “We greatly appreciate Mark’s advice and role in helping to transition from a high level corporate CFO, to a regional CFO concept that will give us better control in the field,” explained Verus CEO Anshu Bhatnagar. “In his short time here, Mark helped improve the accounting framework to support our future growth, so his input has been greatly appreciated.” Furthermore, the Company is unhappy to report additional interference from former CEO Alex Aliksanyan, who has filed a motion for contempt based upon appointment of directors Michael O'G...