Envirotech Vehicles Inc. of Osceola (Nasdaq: EVTV) has hired William Miller as CFO, a move that took effect Wednesday.
Miller replaces Franklin Lim, who resigned from the role due to health reasons, according to a Form 8-K the company filed with the U.S. Securities & Exchange Commission.
Lim had been with the electric vehicle maker since April 2023. He was one of two new executive accountants brought in after the company incorrectly reported its financial performance in 2022.
Miller, 49, has more than 25 years of experience in accounting and finance. He has owned and operated a public accounting firm, William C. Miller LLC of Little Rock, since 2017. He also served as the director of internal audit for the Office of the Arkansas Lottery from August 2019 to December 2024.
Before starting his accounting firm, Miller was a partner at L. Cotton Thomas & Co. CPAs in Little Rock from January 2010 to October 2016.
Miller’s compensation incudes an annual base salary of $150,000 and the option to purchase 100,000 shares of the company’s common stock at a price equal to the closing price on his first day of employment.
Shares of the company fell more than 1% Thursday morning to $1.19. Over the past year, shares have fallen about 5.5%.
Envirotech reported a third-quarter loss of $1.2 million, improving on a loss of $5.9 million in the same period a year ago. The company recently acquired Maddox Industries LLC of Puerto Rico, a provider of government contracting solutions, in a bid to boost its revenue stream through government contracts.
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