NEXE Innovations Inc (TSX-V:NEXE, OTC:NEXNF) announced it has beefed up its executive team with two new appointments.
The innovative compostable materials company has appointed Chris Murray as vice president of sales and marketing, and Kam Mangat as vice president of investor relations and corporate strategy.
In a statement, Vancouver-based NEXE said that the moves enhance its leadership team to support and implement its strategic priorities.
READ: NEXE receives initial purchase order for superfood beverages from Purity Life Health Products LP
NEXE president Ash Guglani told investors that the firm is now “keenly focused” on growing sales after commercializing and beta testing its coffee pod.
“The appointment of Chris Murray, a seasoned CPG (consumer packaged goods) salesperson with a proven track record will ensure that we are positioned to be the market leader in the single-serve industry,” Guglani said in a statement.
“The appointment of Kam Mangat will enhance our focus on capital markets and corporate strategy to help build internal operations to support our growth. We expect that the new appointments will significantly strengthen our team as we focus on executing on our strategy.”
Murray has over 20 years of experience in the CPG industry in Canada and the US. He most recently worked as vice president of sales and marketing at Zavida Coffee Company, where he and his team grew the business by over 500%, according to NEXE.
"I've been in the coffee industry for close to 20 years and had the pleasure of selling to most large retail, OCS and Food Service customers across North America. Over the years, I saw the birth and meteoric growth of K-Cups in the industry,” Murray said in a statement.
“In my opinion, the upside of K-Cups is the amazing convenience of brewing one cup of coffee at a time and the downside is filling our landfill with single-use plastics. I believe customers and businesses alike are clamoring for a better solution.”
Meanwhile, Mangat boasts over 20 years of experience in the finance industry, previously as vice president, relationship management at a consulting firm that covered large US and Canadian pension plans.
Share deal
Separately, NEXE said that it had entered into amended agreements with certain key employees and independent contractors to permit the company to issue, in certain circumstances, common shares of NEXE for services provided by such employees and independent contractors in lieu of salary, bonuses or other compensation payable to such employees and independent contractors.
To that end, it issued 435,714 common shares at a price of $0.28 per share to certain employees and independent contractors in satisfaction of an aggregate of $122,000 to be paid to such employees and independent contractors.
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