KEWL - Keweenaw Land Announces Departure of CFO and Appointment of Interim Treasurer
IRONWOOD, Mich., May 03, 2019 (GLOBE NEWSWIRE) -- Keweenaw Land Association, Limited (OTC US: KEWL) today announced that Claudio Nicoletta, Chief Financial Officer, will be leaving the company, effective May 10, 2019, due to personal reasons and to pursue another opportunity. “From a professional perspective, I found the accounting, finance and management functions in good order and truly enjoyed working at Keweenaw,” said Nicoletta, “however, I soon found that the long-distance commute was simply too taxing on my family. I regret leaving after such a short period of time, but I have decided to accept another opportunity that offers me the ability to work closer to home.”
The Company has re-engaged Korn Ferry to commence a search for Mr. Nicoletta’s replacement. Jim Simmons, the Company’s former treasurer, will serve as interim treasurer of the Company.
James Mai, Keweenaw’s chairman commented, “We appreciate Claudio’s hard work and wish him the best. We are very pleased that Jim Simmons will return to serve as interim Treasurer as we seek and secure an enduring solution.”
Contact: Paula J. Aijala, Secretary, Keweenaw Land Association, Limited, investors@keweenaw.com
About Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings exceeding 183,000 surface acres and 400,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan and northern Wisconsin. Additional information is available on the Company's website at www.keweenaw.com. Forward-Looking Statements: This release contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties and should not be relied upon as predictions of future events or promises of a given course of action. A number of factors such as changing economic conditions, price fluctuations, land use, environmental and other governmental regulations, and risk of loss from natural disasters, could cause actual results to differ materially from those described in the forward-looking statements. As with any investment, past performance is not a guarantee of future results. The Company is currently not subject to the filing requirements of the Securities Exchange Act of 1934, as amended. The Company is categorized as "current" under the OTC Pink Sheets.