Sycamore Entertainment Group (OTCMKTS:SEGI) on October 11, 2021, announced the appointment of Alfred “Chip” Sloan as well as Jason You to the board of directors. The two will commence serving as committee leaders for implementing the goals of the company. While Sloan will head the new Compensation Committee, Mr You will be leading the new Audit Committee.
The two appointments are a strategic move for the company since they bring a wealth of experience as well as knowledge. Years of professional relationships provide the firm with institutional funding as well as a unique access for top-tier acquisition deal flow.
Edward Sylvan, CEO of Sycamore Entertainment Group Inc, said that he is honored on having both Chip and Jason joining the firm as they bring both experience and value to Sycamore. Sylvan said that it will facilitate the move towards executing the mission on augmenting shareholder value.
While Sloan has over two decades of experience in sports law, having worked with top agencies in Los Angeles and New York. On the other hand, Chip commenced work at the Beverly Hills Sports Council in Los Angeles, with a diverse background as well as being well versed in various complex legal, commercial, and corporate matters in sports.
Chip said that he is excited on being part of the Sycamore Entertainment and admires on what the firm has built.
Market Reaction:
On Monday, SEGI up 20.63% at $0.0249 with more than 15.89 million shares, compared to its average volume of 6.62 million shares. The stock has moved within a range of $0.0207 – 0.0250 after opening the trade at $0.0209.
