Latch CFO Garth Mitchell left the company less than a year after taking office and spearheaded the company’s public market debut via a random email, special acquisition vehicle, or SPAC obtained by The gaming-updates Show. Information about the reshuffle has not yet appeared in the news section of the Latch website, but T.The company filed a complaint with the SEC and released the news via teleservice.
Latch said Mitchell’s successor “immediately” would be Barry Schaefer, Latch’s senior vice president of finance. The leadership reshuffle continues with COO Ali Hussain retaining his post but stepping down as “CEO and COO”. Junji Nakamura, senior vice president of the company, will also take on the new role of chief accountant.
“These changes are an important part of our next phase of growth,” said Luke Schoenfelder, CEO and co-founder of Latch. “We look forward to delivering a great experience for our customers and adding value to our shareholders through these changes.” Latch did not immediately respond to a request for comment.
From SPAC attack to SPAC attack
The change in the latch comes at a critical time for many tech companies in the public markets following a plunge in stock prices amid a broad correction in valuations triggered by the pandemic. gaming-updates has been covering this trend since at least December 2021. The sell-off continued until 2022, prompting a change in investor sentiment regarding the value of tech companies.