Edible Garden’s CFO James Steps Down, Dafoulas Takes Over Temporarily

In an official capacity, the Chief Financial Officer of Edible Garden, Michael James, has retired from his various roles within the company, including CFO, treasurer, secretary, and director. Consequently, Kostas Dafoulas has been appointed as the interim CFO to assume the responsibilities left vacant by James.

Dafoulas has been working as a consultant for Edible Garden since November, representing CapConnect+ and providing essential financial reporting and related services. This shift in leadership coincides with the ongoing evolution of Edible Garden’s controlled environment agriculture produce grower.

As part of James’ departure, the company has agreed to provide a severance payment of $300,000 over the next 12 months. Furthermore, he may be eligible for an additional $300,000 in milestone payments upon meeting specific transitional deliverables, as disclosed in a securities filing.

This rearrangement in Edible Garden’s leadership represents a significant upheaval in the company’s financial management. Investors and stakeholders will closely monitor Dafoulas’s performance in his interim role and the handling of the company’s financials during this transition.

For additional information, inquiries may be directed to Dean Seal at [email protected]. Stay tuned for further developments on this unfolding story.