Trim items distributor Tag-It Pacific Inc has named Lonnie Schnell as its new Chief Financial Officer. He succeeds August DeLuca as CFO.
Lonnie Schnell (age 57) brings over 25 years experience in the financial management of technology manufacturing, distribution, and consumer product businesses to the Tag-It organization.
From 2002 to 2004, Schnell served as Chief Financial Officer of EMSource LLC, an electronic manufacturing service company. Prior to EMSource, in 2002, he served as CFO of Vintage Capital Group, a private equity investment firm.
From 1999 through 2002, Schnell served as CFO of Need2Buy Inc, a business-to-business online marketplace for electronic components. He has also served as CFO for Haskel International Inc, an international manufacturer of high technology pumps; VP Controller for Telair Inc, an aerospace engineering and design firm; and as Director of Corporate Development & Audit for Talley Industries Inc, formerly an international industrial, aerospace and consumer products manufacturer and distributor.
Stephen Forte, Tag-It's Chief Executive Officer, said, "We are very excited to have Lonnie join our team. Lonnie's leadership, experience and financial management skills are a perfect match for our needs as a growing and transforming company."
In order to align the interests of Schnell with those of Tag-It stockholders, his compensation package included initial option grants. He was granted a non-qualified option to purchase 400,000 shares of common stock, which option is exercisable at $0.57 per share, vests over a period of four years from the date of employment subject to Schnell's continued employment, and has a ten-year term.
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
