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KISSIMMEE, Fla., Sept. 18, 2024 (GLOBE NEWSWIRE) -- ECD Automotive Design, Inc. (Nasdaq: ECDA) (“ECA Auto Design” or the “Company”), an industry leader in delivering restored, modified and electrified Land Rover Defenders, Jaguars, and other classic and collectible automobiles announced today that the Company’s Chairman, Benjamin Piggott has been appointed Chief Financial Officer effective September 16, 2024, succeeding Raymond Cole who has chosen to step down for personal reasons. Ray will remain with ECD Auto Design in a consulting role on an as needed basis, through the first half of 2025 to help ensure a seamless transition.
“We are pleased to welcome Ben into the operations side of the business,” said Scott Wallace, CEO of ECD Auto Design. “Ben has extensive experience helping build and invest in successful businesses. Ben has been instrumental in ECD Auto Design emerging from our SPAC business combination and in the early days of being a public company, serving as the Chairman of our Board. We look forward to working even closer together in the future.”
Before serving as ECD Auto Design’s Chairman, Mr. Piggott was the Chairman and Chief Executive Officer of EF Hutton Acquisition Corporation I, the SPAC through which ECD Auto Design became a public company. Mr. Piggott has been a Managing Director at EF Hutton, a middle market investment bank, since its inception in June 2020. Prior to joining EF Hutton, Mr. Piggott was Head of Corporate Development at Laird Superfood, Inc. (NYSE American: LSF); Mr. Piggott also helped to successfully negotiate the sale of a minority equity stake in the company to Danone S.A. Before Laird Superfood, Mr. Piggott spent fifteen years in the investment industry, ten of which were with the Small Cap Team at Fidelity Management & Research Company, where he served as a research analyst and sector portfolio manager. Mr. Piggott also spent two years at Legg Masson Capital Management as a generalist covering small and mid-cap companies. Mr. Piggott received his Bachelor of Science in Finance from Bentley University in 2002.
ECD Auto Design CEO Scott Wallace concluded, “Ray has been crucial guiding ECD Auto Design to the point we are at and we are sad to see him go. We are grateful for the contribution he has made as we continue to position this company for growth.”
In conjunction with Mr. Piggott’s appointment as the Company’s CFO, both Mr. Piggott and Thomas Humble have resigned as members of the Company’s Board of Directors and CEO Scott Wallace was appointed the Chairman of the Company’s Board of Directors.