Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective August 16, 2016, the Board of Directors of eDigital Corporation (“eDigital” or the “Company”) appointed Russell H. Packer as a director to serve until the 2017 Annual General Meeting of Shareholders. Mr. Packer will also serve on the Audit Committee of the Board. With the appointment of Mr. Packer, the number of directors increased from four to five. The current Board chairman, Allen Cocumelli, will no longer serve on the Audit Committee, effective concurrently with Mr. Packer’s appointment.
Mr. Packer has been employed as the Chief Financial Officer of GeoOptics, Inc., a company engaged in the collection and sale of Environmental Earth Observation data for use in operational monitoring and forecasting applications, since 2011. Formerly, he was the CFO of Geometric Results Incorporated (“GRI”), a Ford Motor Company business and technology services subsidiary. Mr. Packer previously spent five years as a financial executive with Coca-Cola, including work on the IPO of Coca-Cola Enterprises, and ten years in investment banking with Shoreline Partners and Delphos Group. He holds a B.S. in Business Administration and an MBA from USC.
A copy of the Press Release announcing the changes to the Company’s Board of Directors is attached hereto as exhibit 99.1 and incorporated by reference herein in its entirety.
