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micromobility.com Inc. (NASDAQ:MCOM) in a strategic move to bolster its executive team and strengthen its path to profitability, today announced the confirmation of Gian Luca Spriano as its Chief Financial Officer (CFO).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231212835282/en/
This announcement follows closely on the heels of a significant financial achievement where the company successfully reduced its debt burden, enhancing its financial stability and setting a firm course for future profitability. Gian Luca Spriano, who previously served as the interim CFO and has been with the Company since 2018, has been instrumental in the recent restructuring of the company's debt. His expertise and leadership in finance have proven pivotal in navigating the company through complex financial negotiations, resulting in a substantial reduction of the company's debt load from $15,000,000 to $5,750,000. This strategic financial maneuver not only reflects the company's resilience but also underscores its commitment to sound financial management and long-term growth.
CEO Salvatore Palella expressed his confidence in Spriano's appointment, stating, "Gian Luca's exceptional financial acumen and strategic foresight have already proven invaluable to micromobility.com Inc. during his interim appointment. As we enter a new phase of growth and management restructuring, his role as CFO will be central to driving our mission of becoming a sustainable and profitable leader in the urban mobility sector." Alongside the appointment of Gian Luca Spriano as CFO, micromobility.com Inc. is also initiating a comprehensive management restructuring.
This initiative, led by CEO Salvatore Palella and CFO Gian Luca Spriano, aims to streamline operations, foster innovation, and position the company at the forefront of the urban mobility industry. The restructuring plan is designed to leverage the company's newfound financial flexibility, enabling it to capitalize on emerging market opportunities and drive sustainable growth. "As we embark on this exciting phase of management restructuring, our focus is unwavering: to achieve long-term profitability and success. With Gian Luca Spriano as our CFO, we are more equipped than ever to navigate the challenges ahead and seize the opportunities that lie in the dynamic landscape of urban mobility," added Palella.
The appointment of Gian Luca Spriano as CFO and the ongoing management restructuring underscore micromobility.com Inc.'s commitment to operational excellence, financial strength, and strategic growth. The company is poised to keep redefining the urban mobility space with its innovative solutions and a strong leadership team at the helm.
Posted In: MCOM
