Vapor Corp (OTCMKTS:VPCO) announces John A. Ollet as the new Chief Financial Officer of the company in December 2016. As the year closed, it left the Chief Financial Officer resigning, making way for John A. Ollet to join the board.
Vapour planning acquisition strategy
The company has dropped hints about its “acquisition strategy,” which means that this is a crucial time for the company that is looking for advancement towards growth and expansion. The Chief Executive Officer of Vapor, Jeffrey Holman while bringing John A. Ollet to company’s executive team, hoped that his financial experience would assist the company in its times ahead.
Jeffrey Holman said, “This is an exciting stage in our company,” which looks like a strong public entity. He believes that the new CFO would add his experience to the company’s new strategies and expansion policies.
The new CFO and new expansion plans of Vapour
John A. Ollet has served at the executive designation in the previous companies. He has served as the Executive Vice President in Systemax, Inc.’s finance team. He has been in the company’s North America Technology Division for a decade from 2006 to 2016.
Prior to Systemax, Inc., John A. Ollet also served as the Vice President and Chief Financial Officer at Arrow Cargo Holdings, Inc. He has remained in the executive post of VP Finance/CFO in The Americas – Cargo Division, KLM Royal Dutch Airlines.
As a certified public accountant, John A. Ollet comes to Vapour with a baggage of responsibilities at a time when this company is expecting expansion and acquisition. John A. Ollet’s role in further deals will be under the radar and the acquisition strategies or their impact shall play a vital role.
As of 31 December 2016, the company had reported the cash and cash equivalent of $ 27,214,991. The analysts’ rating for this consumer goods stock, until two days back was 2. In 2017, the company is seen performing -30%. As per the future prospects of this company are concerned, the analysts are expecting favourable times in the road ahead.