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MINNEAPOLIS, MN / ACCESSWIRE / June 11, 2024 / Lendway, Inc. (NASDAQ:LDWY) ("Lendway"), a leading specialty ag and finance company (www.lendway.com), today announced the appointments of Mark R. Jundt and Daniel C. Philp as Co-Chief Executive Officers effective July 1, 2024.
"We are pleased that Mark and Dan have agreed to step into the Co-CEO role" said Nick Swenson, a Board member and representative of a group of Lendway stockholders. "Bloomia, the Company's majority-owned subsidiary, is being run by its able CEO and 18% minority owner. We believe he is doing a spectacular job of running the underlying business. The Board believes that at the corporate level, Lendway's leaders need to focus on administration, corporate governance, and new strategic initiatives. Having two very experienced mergers and acquisitions executives take on this shared role aligns skills with requirements. The Board is very excited to have Mark and Dan lead us into the future."
Mr. Jundt has served as a member of our Board of Directors since November 2022 and as its Chair from August 2023. He has also served as General Counsel & Corporate Secretary of Air T, Inc. since 2008. Mr. Jundt has extensive experience in corporate governance, mergers and acquisitions, and litigation.
Mr. Philp has served as a member of our Board of Directors since November 2022. He has also served as Senior Vice President of Corporate Development at Air T, Inc. since 2014. Mr. Philp was instrumental in the Board's oversight of the Company's recent acquisition of Bloomia, B.V. He has significant experience investigating new acquisition targets and other strategic initiatives.
Randy D. Uglem, Lendway's current President and Chief Executive Officer, tendered his resignation and is expected to depart the company effective July 1, 2024. "On behalf of the Board, I want to sincerely thank Randy for his excellent service during a period of significant change at Lendway," said Mr. Jundt. "Dan and I believe wholeheartedly in this company and are excited to lead Lendway in its next chapter of growth."
About Lendway, Inc.
Lendway, Inc (NASDAQ:LDWY) is a specialty ag and finance company focused on making and managing its ag investments in the U.S. and internationally. Lendway is the majority owner of Bloomia, one of the largest producers of fresh cut tulips in the United States. Lendway also fully owns and operates FarmlandCredit.com, a non-bank lending business that seeks to purchase existing loans and/or originate and fund new loans domestically. For additional information, contact (800) 874-4648, or visit our website at www.lendway.com. Investor inquiries can be submitted to info@lendway.com.