Community Redevelopment, Inc. (OTCMKTS:CRDV). has announced corporate governance actions consistent with the company’s efforts to drive long-term value creation for all stakeholders, on October 3, 2022.
Trading Data
On Monday, CRDV stock soared 300% to $0.20 with more than 126K shares traded, compared to a volume of 10K shares. The stock moved within a range of $0.0500 – 0.5098 after opening trading at $0.0500.
Community Redevelopment, Inc. Announces Board of Directors Actions
The Board of Directors has appointed their present COO Mrs. Lara Fritts as the Chief Executive Officer of Community Redevelopment, effective immediately. Joseph Gibbons, Board Chairman has said that he is looking forward to working with Mrs. Fritts as she assumes her new responsibilities. Her administrative skills within the company after becoming COO, and her background in organizational development will work wonders for the company in the future.
The company’s previous CEO Mr. Garfield Antonio is stepping down from his role as CEO and President as he is now undergoing treatment for health issues. But he retains his title as a Director and continues to be a part of the company.
Richard Balles, with over 20 years of project developmental experience in both real estate and finance, is an excellent choice to fill the role of President, effective immediately. Chairman Gibbons commented that Richard’s extensive knowledge of the Greater Washington DC market will be extremely useful for them, as they plan to acquire several projects in the region. Moreover, Balles’ exceptional entrepreneurial ability is an obvious and valuable skill set for Community Redevelopment.
The Directors Balles’ and Fritts’ combined professional experience and integral knowledge of all aspects of growing a business, will take the company to new heights in the upcoming years.
Key Quote
Joseph Gibbons, CRDV Board Chairman noted “I am looking forward to working closely with Mrs. Fritts in her new role. Her proven effective administrative capability within the company since becoming Chief Operating Officer, along with her strong background in organizational development, made her the obvious choice to lead the company into the future. Ms. Fritts has extensive experience building and leading government departments and public-private partnerships and has a proven history of executing significant developments in the public sector”.
