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XS Financial Announces Changes to Management and Board

March 31, 2023, 07:13 AM

XS Financial Inc., a specialty finance company providing CAPEX and equipment financing solutions to cannabis companies in the United States, announced Justin Vuong has been named Chief Financial Officer (CFO) effective June 1. Vuong succeeds XS Financials' current CFO Stephen Christoffersen, who will remain active as a member of the company's Board of Directors, Investment Committee and has been appointed as Audit Chair.

Vuong has served as Senior Vice President of Corporate Development of XS Financial since 2018 and has been instrumental in the overall growth of XS Financial since its inception. In his previous role, Vuong played a critical role in driving improved financial performance and developing XSF's financial strategy, capital raising and budgeting process. He brings over 10 years of finance and capital markets experience and held previous investment banking roles at Roth Capital Partners and Mufson Howe Hunter & Co.

CEO David Kivitz said, "This is a well-deserved promotion for one of our longest-tenured team members. Justin knows the business inside and out and has been a steady hand throughout the company's history. We are fortunate to recognize Justin's contribution to the business over the years by promoting him to this critical role while retaining Stephen's deep industry knowledge and capital markets experience as Audit Chair and member of the Investment Committee."

Vuong said, "I've had the privilege of working alongside this talented team over the last five years and am honored to be promoted to this position. The future is incredibly bright for XS Financial, and I'd like to thank the board members for their confidence in me to take on this new role."

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