Vinco Ventures (NASDAQ:BBIG) stock is in the red by more than 5% today after ZASH announced that it has appointed Erik Finman as its new CEO. ZASH is the controlling shareholder of Vinco.
ZASH characterizes the 22 year-old executive as a “highly successful crypto expert” and the “youngest bitcoin millionaire.” In response to his new position, Finman tweeted the following:
https://twitter.com/erikfinman/status/1552665270451412994
Meanwhile, Vinco Ventures is also in the middle of a severe management problem. On July 25, the company accused the Farnsworth Group — four of Vinco’s top executives — of attempting a hostile takeover. As a result, the board removed Ted Farnsworth as the co-CEO of Vinco. The board also removed two other executives and former Vinco CEO Lisa King from her role as the President of ZVV Media Partners.
With that in mind, let’s take a look at ZASH’s brand new CEO.
BBIG Stock: Erik Finman Appointed as CEO of ZASH
Erik Finman first sprang into the cryptocurrency scene after making his first Bitcoin (BTC-USD) investment at the age of 12. Three years later, the executive dropped out of high school and founded Botangle, an “education startup” he later sold.
Before his appointment as CEO, Finman also helped launch the ZASH satellite into space. That satellite “dropped” the first non-fungible token (NFT) from space. Finman has also used a satellite to drop BTC to a school in Ghana. Lastly, the executive most recently helped launch Metal Pay.
Ted Farnsworth had the following to say about Finman:
“Erik is a well-known veteran in the crypto and NFT space, who is often called upon to speak as an expert in that field, and we are extremely fortunate to have landed him in the role of CEO for ZASH […] Erik’s leadership will allow us to expand in the Web 3 space which I’m very excited for what the future holds.”
As CEO, Finman will help ZASH expand its crypto and NFT initiatives. The company is currently focused on “live-streaming content, video-sharing, distribution and production within its own ecosystem.”
Meanwhile, BBIG stock investors are still awaiting updates concerning the attempted hostile takeover. The company recently postponed its stockholders meeting to Aug. 23. Vinco will likely reveal more details by or before then.
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On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
