Envela Corporation announced that after seven years as the Company's Chief Financial Officer, Bret Pedersen is stepping down. Following a planned succession process, John DeLuca will be appointed as the new CFO, beginning March 25, 2024. DeLuca currently serves as the company's Vice President of Finance and Commercial Segment Controller.

As CFO, he will report directly to Envela's CEO, John Loftus. Pedersen will transition to a new role within Envela, serving as Vice President and Strategic Advisor until the end of 2024. John DeLuca brings over 20 years of experience in the secondary metal-processing industry, and a comprehensive background in finance, operations, and planning.

Before joining Envela last year, DeLuca's career spanned roles in both public and private-equity-backed companies, demonstrating expertise in various areas including P&L management, accounting, and financial planning and analysis.