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Greenfern announces change in Chief Financial Officer

30/11/2023, 14:04 NZDT, GENERAL

Greenfern Industries (NZX.GFI) announces the resignation of current CFO, Howard Long and the appointment of Richard Chew as its new Chief Financial Officer. Howard Long who has been in the role prior to listing in October 2021 has resigned to pursue other opportunities effective 1st December 2023. The Company will work with Howard on a transition plan and confirmed measures will be put in place to ensure the smooth operation and hand over process of the finance function with Richard. On behalf of the Board, we would like to thank Howard for his unwavering contribution to Greenfern and wish him well in the next chapter of his career. Mr Chew, a chartered accountant who has been recognised in the New Zealand CFO awards in the finance leader of the year (2016) and the finance team of the year (2017) categories, comes to Greenfern with more than two decades of senior management experience in sectors ranging from media, advertising and marketing to retail, music and property including commercial finance roles with Les Mills International, Fox Sports, FCB NZ, 90 Seconds, Mahi Tahi Media, Rhythm & Vines, Allpress Espresso, Cooks Coffee Company (NZX:CCC) and others. Mr Chew, who joins Greenfern on 1st December, is currently running his own finance consulting business XL CFO and was CFO for NZX and ASX listed companies including Global CFO and founding shareholder of 90 Seconds, a cloud-based video production company that achieved significant investment from Sequoia Capital, one of the world's largest Venture Capital funds. Greenfern Independent Chairman Marvin Yee said: "Richard is an energetic and skilled finance professional and offers Greenfern a good balance of commercial, financial and operational experience. We are looking forward to him joining the team". Greenfern continues to evolve in what is still considered a sunrise industry here in New Zealand as they look to settling into their recently commissioned cultivation facility in Taranaki. Managing Director Dan Casey says "It has been a long transition from the outset to now having to navigate the regulatory rules and hurdles, however we are now on the cusp of generating significant cashflow for the business and settling into a production phase and pushing for optimal performance. Once we achieve this, we can then look to capitalise on some of the opportunities we have put in place and those that present themselves often." We look forward to updating the markets in the near future. Dan Casey Managing Director 0274202476 End CA:00422727 For:GFI Type:GENERAL Time:2023-11-30 14:04:29