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ECD Automotive Design, Inc. (NASDAQ:ECDA) announced Monday the appointment of Victoria Hay as Chief Financial Officer and Principal Financial (NASDAQ:PFG) Officer, effective August 15. The announcement comes at a crucial time for the company, which according to InvestingPro data, is operating with a significant debt burden and faces challenges with cash burn. The announcement was made in a press release statement based on a filing with the Securities and Exchange Commission.
Hay, 42, is currently the co-owner and President of Flexible Consulting, LLC, a financial and accounting consulting firm. Since May 2021, she has served as a financial and accounting advisor to various companies, including acting as contracted Interim Chief Financial Officer of Nauticus Robotics and Chief Financial Officer of Enovate, an artificial intelligence company in the oil and gas sector. Prior to Flexible Consulting, Hay worked at Weatherford International plc (NASDAQ:WFRD) from 2008 to May 2021 in several accounting and finance roles, most recently as Senior Director – Global Accounting and Reporting Services. She began her career as a finance analyst with Morgan Stanley (NYSE:MS) and holds a CIMA chartered accountant designation and a BSc (Honors) in Biotechnology and Management from Edinburgh University.
Hay will provide services through Flexible Consulting, LLC, for a monthly cash compensation of $20,000 and up to $2,000 per month in expense reimbursement. She will also receive $150,000 of ECD Automotive Design common stock, valued and issued on January 2, 2026. This compensation package comes as the company, currently valued at approximately $7 million in market capitalization, prepares to report its earnings on August 19. Since March 2025, Flexible Consulting has provided accounting and finance services to ECD Automotive Design totaling $123,000 to date.
The company stated there are no arrangements or understandings between Hay and any other person regarding her selection as an officer, and no family relationships with directors or executive officers.
The company also reported the departure of Benjamin Piggott from the role of Chief Financial Officer, effective August 15. Piggott will transition to Director of Corporate Development, with an annual salary of $225,000 plus certain benefits.
ECD Automotive Design’s common stock and warrants trade on the Nasdaq Stock Market under the symbols ECDA and ECDAW, respectively.
This information is based on a press release statement and a filing with the Securities and Exchange Commission.
In other recent news, ECD Automotive Design, Inc. has been actively engaging in several strategic financial maneuvers. The company exchanged $10 million in convertible promissory notes for 15,000 shares of Series C Convertible Preferred Stock, alongside a private placement sale of 1,111 shares for approximately $999,900. ECD Automotive Design also received a delisting notice from Nasdaq due to non-compliance with listing rules, prompting plans to appeal the decision. Stockholders have approved multiple proposals, including a reverse stock split, share issuances, and director elections, with the board authorized to implement a reverse split of up to 1-for-200. Additionally, the company secured a $500 million equity facility to support a Bitcoin treasury strategy, aimed at acquiring Bitcoin and funding growth initiatives. In efforts to enhance operational efficiency, ECD Automotive Design has reviewed its cost structure and capital allocation, identifying areas for cost savings and improving inventory management practices. These developments reflect the company’s ongoing efforts to strengthen its financial position and strategic direction.
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