Verde Resources Inc (OTCMKTS:VRDR) Stock On Watchlist: Company Appoints Jack Wong as new President and CEO

The appointment of a new Chief Executive Officer and President is almost always a major event at any company and so it was for Verde Resources Inc (OTCMKTS:VRDR). The company announced that Jack Wong was going to be the CEO and President effective October 1, 2022.

Trading Data

On Tuesday, VRDR stock ended flat at $0.1100 with more than 5.02K shares, compared to volume of 21.47K shares. The stock moved within a range of $0.1100 – 0.1100 after opening trade at $0.1100.

Verde Resources To Appoint Jack Wong As New President And CEO

The outgoing president of the company BalakrishnanMuthu, spoke about the latest appointment. He noted that the appointment of Wong is going to be a major catalyst when it comes to realizing the aspirations of Verde Resources of ‘Going Green and Beyond’. Muthu went on to note that board of directors at the company believes that Wong has the wherewithal to take the company to greater heights.

Wong, who is 39 years old, was born in Borneo in Japan and then went on to get a degree in business administration from Wichita State University. He is going to be responsible for overseeing all the company’s operations in the Asia Pacific and in the United States. Wong stated that he was honored at having been chosen for the position. It is now going to be interesting to see how the market participants react to the latest development over the coming days.

Key Quote

“Jack’s appointment serves as a ‘catalyst’ to realize our aspirations of ‘Going Green and Beyond’, and the board of directors believes he has what it takes – the energy, passion and leadership, to lead Verde to greater heights,” said outgoing President Balakrishnan Muthu (right in pic), who has decided to step down.

Technical Data

VRDR stock is above the 20-Day and 50-Day Moving averages of $0.11 and $0.12 respectively. However, the stock is trading above the 200-Day moving average of $0.10. The company has a total market capitalization of $90 million.