ONTARIO,
Calif., Dec. 3, 2024 /PRNewswire/ -- Nature's
Miracle Holding Inc. (NASDAQ: NMHI) ("Nature's Miracle" or the
"Company"), a leader in vertical farming technology and
infrastructure, announced today that Daphne
Y. Huang has been appointed Chief Financial Officer and
George Yutuc, has stepped down from
serving as Chief Financial Officer (CFO) and will now serve as the
Company's Chief Operating Officer (COO). These strategic leadership
appointments aim to advance the Company's long-term growth strategy
and enhance operational efficiency.
Ms. Daphne Y. Huang brings over
two decades of financial and operational leadership experience
spanning the healthcare, pharmaceutical, manufacturing, IT
backed-logistics, artificial intelligence (AI), and financial
services sectors. Ms. Huang served as Chief Financial Officer at
Gorilla Technology Group Inc., a Nasdaq-listed company providing
global Edge AI security solutions, from July
2022 to August 2024. From
August 2021 to July 2022, she was the Chief Financial Officer of
GoFor Industries Inc., a fast-growing IT platform enabled last mile
logistics company operating in Canada and the
United States. Between April
2020 and August 2021, Ms.
Huang served as Chief Financial Officer and Chief Accounting
Officer at Taro Pharmaceutical Industries Ltd., a multinational
pharmaceutical company listed on NYSE. Prior to that, she held the
role of Chief Financial Officer and Interim Chief Operating Officer
at Humanwell USA LLC / PuraCap
International LLC, a global pharmaceutical company, from
June 2016 to April 2020. Earlier in her career, Ms. Huang
served as a Senior Portfolio Manager in the Middle Market Banking
Group at HSBC Bank from 2015 to 2016. From 2009 to 2015, she was
the Chief Financial Officer at Lihua International, Inc., a
Nasdaq-listed manufacturing and distribution company. Ms. Huang
also held roles in debt capital markets as Vice President at GE
Capital Markets, Inc. from 2003 to 2009 and as Senior Associate at
Fleet Securities, Inc. (now acquired by Bank of America) from 2000
to 2002. Mr. Huang was the Senior Auditor in Capital Markets Group
at PricewaterhouseCoopers LLP from 1997 to 2000. Ms. Huang is a
licensed Certified Public Accountant and earned her Master of
Business Administration in Finance/Management/International
Business from New York University's
Leonard N. Stern School of Business
in 2000. She received her Bachelor of Business Administration in
Accounting from Baruch College, City
University of New York, in 1995.
Mr. George Yutuc served as the
Company's Chief Financial Officer until December 1, 2024 and became the Company's Chief
Operating Officer on December 1,
2024. From 2021 to 2023 he consulted with major private
equity firms and a top strategy firm in the field of packaging,
single use restaurant supplies, manufacturing in California and evaluating industry targets.
From 2019 to 2021 he was CFO of Karat Packaging, a manufacturer and
distributor of paper and plastic cups, "to go" boxes and related
supplies. The Company went from a privately-held $175 million company to a $300 million revenue Nasdaq-listed company during
this time. Between 2001 and 2018 he served as CFO or controller in
fast-growth companies including EbrokerCenter, Jet Aerospace,
ScribeRight and Casestack. Prior to 2001, he held key positions as
an audit manager, senior manager and director of corporate finance
at CPA firm Deloitte & Touche from 1996 to 2001. George earned
his Bachelor of Arts degree and MBA from the University of California, Los Angeles. He has
served as a part-time adjunct instructor in Business Acquisitions
and Finance at his alma mater from 2005 to 2020.
Mr. James Li, Chairman and CEO of
Nature's Miracle, commented, "We are thrilled to enhance our
executive team with Daphne's financial expertise. Her extensive
financial acumen and achievements in driving growth and efficiency
will be invaluable as we continue to execute our strategic vision.
We also extend our gratitude to Mr. George
Yutuc for his outstanding contributions as CFO and are
excited about his continued leadership as COO. These appointments
signify a crucial step in aligning our leadership with the
Company's growth strategy. Daphne's proven track record in driving
strategic financial initiatives, combined with George's experience
in scaling operations, positions us for success in the next chapter
of our journey."
Ms. Daphne Y. Huang, CFO of
Nature's Miracle, stated, "I am honored to join Nature's Miracle at
such an exciting time. The Company's dedication to strategic
diversification in this ever-evolving industry is truly remarkable.
I look forward to working with the team to build on its
achievements and drive continued success."
Mr. George Yutuc, COO of Nature's
Miracle, added, "It is a privilege to transition into this role and
help shape the operational excellence of Nature's Miracle. I am
eager to collaborate with our talented team to optimize processes,
improve efficiencies, and drive long-term value creation."
About Nature's Miracle Holding Inc.
Nature's Miracle (www.Nature-Miracle.com) is a growing
agriculture technology company providing equipment and services to
growers in the Controlled Environment Agriculture ("CEA") industry
which also includes vertical farming in North America. Nature's Miracle offers
hardware to design, build and operate various indoor growing
settings including greenhouse and indoor-growing spaces. Nature's
Miracle, through its two wholly-owned subsidiaries (Visiontech
Group, Inc. and Hydroman, Inc.), provides grow lights as well as
other hydroponic products to hundreds of indoor growers in
North America.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: the
intended use of proceeds from the offering; successful launch and
implementation of Nature's Miracle's joint projects with
manufacturers and other supply chain participants of steel, rubber
and other materials; changes in Nature's Miracle's strategy, future
operations, financial position, estimated revenues and losses,
projected costs, prospects and plans; Nature's Miracle's ability to
develop and launch new products and services; Nature's Miracle's
ability to successfully and efficiently integrate future expansion
plans and opportunities; Nature's Miracle's ability to grow its
business in a cost-effective manner; Nature's Miracle's product
development timeline and estimated research and development costs;
the implementation, market acceptance and success of Nature's
Miracle's business model; developments and projections relating to
Nature's Miracle's competitors and industry; and Nature's Miracle's
approach and goals with respect to technology. These
forward-looking statements are based on information available as of
the date of this press release, and current expectations, forecasts
and assumptions, and involve a number of judgments, risks and
uncertainties. Accordingly, forward-looking statements should not
be relied upon as representing views as of any subsequent date, and
no obligation is undertaken to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws. As a
result of a number of known and unknown risks and uncertainties,
actual results or performance may be materially different from
those expressed or implied by these forward-looking statements.
Some factors that could cause actual results to differ include: the
ability to maintain the listing of the Company's shares on Nasdaq;
changes in applicable laws or regulations; the effects of the
coronavirus (COVID-19) and any future outbreaks on Nature's
Miracle's business; the ability to implement business plans,
forecasts, and other expectations, and identify and realize
additional opportunities; the risk of downturns and the possibility
of rapid change in the highly competitive industry in which
Nature's Miracle's operates; the risk that Nature's Miracle's and
its current and future collaborators are unable to successfully
develop and commercialize Nature's Miracle's products or services,
or experience significant delays in doing so; the risk that the
Company may never achieve or sustain profitability; the risk that
the Company will need to raise additional capital to execute its
business plan, which may not be available on acceptable terms or at
all; the risk that the Company experiences difficulties in managing
its growth and expanding operations; the risk that third-party
suppliers and manufacturers are not able to fully and timely meet
their obligations; the risk that Nature's Miracle's is unable to
secure or protect its intellectual property; the possibility that
Nature's Miracle's may be adversely affected by other economic,
business, and/or competitive factors; and other risks and
uncertainties described in Nature's Miracle's filings from time to
time with the SEC.
Contacts
Daphne Y.
Huang
Chief Financial Officer
Email: daphne.huang@nature-miracle.com
Ascent Investors Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE Nature's Miracle Holding Inc.