On march 9th, 2008, Nascent Wine Co. Inc. (dba Nascent Foodservice, trading under the symbol NCTW) did the inevitable; it made effective the appointment of Peter White as the Chief Financial Officer of the company. Mr. White had been acting as Chief Financial Officer to the company since January, and Sandro Piancone, the Chief Executive Officer, decided it was time to make the move official.
This wasn’t unexpected. Nascent has been growing exponentially in the past 18 months, and with growth that fast and broad, having someone with Mr. White’s credentials at the financial helm is a requisite. Peter White brings over 40 years of senior executive experience to the table, with an extensive background in corporate finance, accounting and operations. White will now be responsible for providing the financial and strategic leadership the CEO requires to take Nascent to the next level of expansion.
Mr. White holds a B.S. degree in accounting from New York University, an MBA in finance from Columbia University and is a certified public accountant in the states of Pennsylvania and Massachusetts. Prior work experience includes such prestigious positions such as CFO and COO of Matrix – Systems Inc, a wireless software company for defense and commercial applications; Vice President of Global finance for 3D systems, a global developer of laser systems; Managing Director of Phoenix Equity Partners, an investing firm; and CFO of Global Spill Management, an environmental services company.
With Nascent’s recent acquisitions and determination to consolidate large portions of the fragmented Mexican food distribution industry, Mr. White will be a perfect addition to the management team. To quote Sandro Piancone, Chief Executive Officer of Nascent Foodservice, “We are very pleased and fortunate to have Pete join the executive management team in a permanent capacity. Pete brings significant senior level finance and accounting experience to Nascent and has been a tremendous resource since joining us in December 2007 as our acting Chief Financial Officer. We are pleased to have someone with Pete’s expertise and capabilities to provide the financial leadership in this dynamic stage of the Company’s growth cycle.”
Permanently filling this slot with someone of Mr. White’s caliber sends a message to the food industry that Nascent is serious about achieving its goals, and it will take on the personnel it needs to accomplish this. Developments such as this keep Nascent on the radar screens of investors worldwide.
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