Sachem Capital CFO Nicholas Marcello Resigns; Names Jeffrey Walraven As Interim CFO

Sachem Capital

1.24 USD -4.26%

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Kaufen / Verkaufen

(RTTNews) - Sachem Capital Corp. (SACH), a mortgage REIT, announced Friday that it is appointing board of directors' member and audit committee member Jeffrey Walraven, Interim Chief Financial Officer.

Nicholas Marcello, the Company's Chief Financial Officer, informed the Company that he was resigning to pursue a non-REIT industry opportunity. Marcello will remain available through December 31, 2024 to provide assistance to ensure a successful and seamless transition.

The Company confirms that there are no disagreements with Marcello regarding the accuracy of the Company's financial reporting or accounting practices. The Company will begin its search for a new CFO immediately.

Walraven will remain a member of the Company's board of directors, but will resign as a member of the Audit, Compensation and the Nominating and Corporate Governance committees effective immediately.

Walraven has served as the Chief Operating Officer, a director and co-founder of RETT Freehold Properties, Inc. since its formation in May 2019. He has also served as an independent director and member of the audit committee of Broad Street Realty, Inc. since 2023. From January 2014 to May 2019, he served as Executive Vice President and CFO of MedEquities Realty Trust, Inc.

From 2006 to 2013, Walraven held several positions with BDO USA, LLP, most recently as an assurance managing partner of the Memphis office. He has over 20 years of public accounting experience, serving many public REIT clients since 1999.