Five Points, California, USA
October 27, 2011
S&W Seed Company (Nasdaq: SANW) today announced that Matthew K. Szot has been elected Senior Vice President and full-time Chief Financial Officer ("CFO") effective November 1, 2011. Before today, Mr. Szot served as S&W Seed's part-time CFO under its CFO Support Services Agreement with Cardiff Partners, LLC.
Grover Wickersham, Chairman of the board of directors of S&W Seed Company commented, "Since March 2010, Matt has been the company's part-time CFO under a contract with Cardiff Partners. This was a cost-effective solution that enabled S&W's shareholders to have access to services of a higher caliber CFO than most companies of our size. However, the board recently concluded that our business has advanced to the point where we need an expert public company CFO on a full-time basis. We are delighted that Matt was willing to fully commit to the opportunities he sees materializing at S&W."
Mark Grewal, president and chief executive officer of S&W Seed, commented, "In view of our organic growth in alfalfa seed, stevia and seed processing markets and, especially our acquisition strategy going forward, having Matt's expertise and full-time commitment is needed. We highly respect Matt, and know his abilities very well. I am extremely pleased to welcome Matt on board as a full-time member of our senior management team."
Mr. Szot commented, "Mark and the board's strategic initiatives are beginning to bear fruit, and I didn't want to miss this opportunity. It was clear that S&W's vertical integration, growth in the alfalfa seed business, development of the stevia program, and the commitment to synergistic acquisitions, meant the company needed a full-time CFO with my skill set. I appreciate the confidence that Mark and the board of directors have in me, and they can be assured I will make every effort to carry out the vision they have set."
Mr. Szot has over fifteen years of experience in corporate accounting and finance, SEC compliance, and operational management. From 1996 to 2003, Mr. Szot was a CPA and Audit Manager with the international accounting firm KPMG, in San Diego and Chicago and was responsible for audits of numerous public companies. From 2003 to 2006, Mr. Szot was the chief financial officer of Rip Curl, Inc., a market leader in wetsuit and sports apparel products. Since 2007, Mr. Szot has been the chief financial officer of Cardiff Partners LLC, a financial and business advisory firm that provides executive financial services to various publicly traded and private firms. Mr. Szot graduated from the University of Illinois, Champaign-Urbana, with a Bachelor of Science degree in Agricultural Economics/Accountancy. Mr. Szot is a Certified Public Accountant in the State of California.
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