LIQUIDITY SERVICES, INC. (NASDAQ:LQDT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On July 13, 2020, Samuel M. Guzman, Jr. notified Liquidity Services, Inc. (the “Company”) of his intention to resign as Vice President and Chief Accounting Officer, effective August 7, 2020, in order to pursue another opportunity. Mr. Guzman’s resignation was not because of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, including accounting principles and practices.
The Company has commenced a search for a new Chief Accounting Officer. Mr. Michael Patrick, Sr. Director, SEC Reporting, Technical Accounting and SOX, will assume Mr. Guzman’s duties on an interim basis effective August 7, 2020.
About LIQUIDITY SERVICES, INC. (NASDAQ:LQDT)
Liquidity Services, Inc. operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information. Additionally, the Company enables its corporate and government sellers to enhance their financial return on assets offered for sale by providing a liquid marketplace and value-added services. The Company’s range of services include program management, valuation, asset management, reconciliation, Return to Vendor and Returns Management Authorization (RTV and RMA), refurbishment and recycling, fulfillment, marketing and sales, warehousing and transportation, buyer customer support, and compliance and risk mitigation.
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