NextPlat names Rodney Barreto chairman and David Phipps CEO permanently

NextPlat Corp (NASDAQ: NXPL) announced the permanent appointment of Rodney Barreto as Chairman of the Board and David Phipps as Chief Executive Officer. Both executives had been serving in interim roles following the death of the company's previous chairman and CEO in May.

Barreto has served as a NextPlat director since January 2022 and brings more than 35 years of business leadership experience. He currently chairs the FIFA Miami World Cup Host Committee 2026 and previously chaired Miami Super Bowl Host Committees in 2007, 2010, and 2020. Phipps currently serves as company president, overseeing global e-commerce and communications operations, and previously guided NextPlat's transformation to its Nasdaq listing in 2021.

The appointments are part of NextPlat's business refocusing efforts outlined in a June 30 shareholder letter. The company has implemented several operational changes, including consolidating headquarters operations within its Hallandale Beach, Florida facility and terminating its Coconut Grove, Florida lease. NextPlat expects an annual overhead expense reduction of approximately $240,000 beginning in 2026 after termination fees and expenses.

NextPlat has secured new business opportunities in its healthcare segment, including a prescription management services subcontract for a government contractor and expanded its 340B business with three new clinic contracts during the current quarter. Three additional customers are scheduled to start early in the fourth quarter.

The company initiated its previously announced share repurchase program during the third quarter of 2025. NextPlat operates as a global consumer products and services company providing healthcare and technology solutions through e-commerce and retail channels worldwide.

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