GENERATION NEXT FRANCHISE BRANDS, INC. (OTCMKTS:VEND) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Appointment of Certain Officers.
On September 27, 2018, the board of directors of Generation Next Franchise Brands, Inc. (the “Company”) appointed Nick Yates as Chief Executive Officer of the Company to succeed Art Budman, the then current CEO of the Company. Mr. Budman will continue as the Company’s Chief Financial Officer. The Company made the decision to make adjustments in titles in order to align titles more closely with roles and activities in the Company.
Mr. Yates has been Chairman of the Company since July 2013, focusing on developing company-owned businesses, international franchising, company financings, and investor relations. Mr. Yates has been instrumental in driving all aspects of the Company as the creative force behind the Company injecting energy, vision, and direction at all levels. Mr. Yates identified Robofusion, the original inventor of the Robotic Vending Kiosk now operated by Reis & Irvy’s, he secured the Company’s exclusive manufacturing partner Flex Limited, created entirely our international license program, and negotiated the exclusive agreement with Compass Group USA to secure locations.
About GENERATION NEXT FRANCHISE BRANDS, INC. (OTCMKTS:VEND)
Generation NEXT Franchise Brands, Inc. formerly Fresh Healthy Vending International, Inc., is a franchise development company and operator of Company-owned vending machines, micro markets and frozen yogurt robots. The Company provides a portfolio of fresh, organic and all-natural snacks and drinks. The micro market provides fresh full meal options, such as salads, sandwiches and wraps. The micro market is designed for implementation in corporate environments, hotel lobbies, auto dealerships and other retail environments. The Company is focused on setting up national distribution partners to carry the consumable products required for the frozen yogurt robots. It outsources non-core functions to third-party vendors. Its services include machine manufacturing, transport, location set-up, maintenance, inventory, food management and ordering, payment processing and cash management. As of June 30, 2016, the Company and its franchisees operated over 3,000 vending machines and micro markets.