Effective on December 6, 2023, the Board of Directors of Kidpik Corp. appointed Mr. Louis G. Schott as a member of the Board of Directors of the Company, to fill the vacancy on the Board of Directors created by the resignation of David Oddi, which as previously disclosed, was effective on November 27, 2023. Mr. Schott was appointed to the Board of Directors pursuant to the power provided to the Board of Directors by the Company?s Bylaws.
Mr. Schott was appointed as a Class I director. As a Class I director, Mr. Schott is expected to stand for election by the Company?s stockholders at the 2025 Annual Meeting of Stockholders. Mr. Schott was appointed as a member of, and as Chairperson of, the Company?s Audit Committee upon his appointment to the Board of Directors, and as a result, the Company now has an Audit Committee consisting of three independent directors.
Mr. Schott was also appointed as a member of the Company?s recently formed Strategy and Alternatives Committee. Mr. Schott, age 57, has over 25 years of legal and business experience, including a strong background in restructuring, mergers and acquisitions, public company regulations and requirements, title, energy finance, business development, general negotiations and land. Mr. Schott?s recent restructuring experience includes restructurings within and outside of bankruptcy and both public, traded on the TSX and NYSE American, and private entities.
Mr. Schott has served as Principal of Fides Energy, LLC, an oil and gas, real estate, green energy solutions, insurance, annuities and settlement company, since January 2017. Since January 2020, Mr. Schott has served as a Co-Principal of Insurance Securities and Union Title Guarantee Company, a company in the oil and gas and real estate investment industry. From May 2018 to December 2020, Mr. Schott served as Interim Chief Executive Officer of Camber Energy Inc. (NYSE American:CEI), an oil and gas exploration company, after serving as a consultant to Camber Energy Inc., from June 2017 to June 2018.
Prior to that, Mr. Schott was the Interim Chief Executive Officer of EnerJex Resources Inc. (NYSE American:ENRJ)(? EnerJex?), a position which he held from February 2017 to March 2018. As CEO, he led restructuring efforts, cost reductions and the successful completion of a merger between EnerJex and a privately held company (AgEagle Aerial Systems Inc.).
Mr. Schott was previously General Counsel and Treasurer of TexOak Petro Holdings LLC (? TexOak?) and its subsidiaries including Equal Energy (? Equal?), from 2009 through August 2016, where he actively performed all legal functions, including corporate structure and governance, negotiation of oil and gas acquisitions and divestitures, drafting review and certification of all corporate and financial documents, legal and land due diligence, corporate finance, litigation management, risk management, insurance, corporate policies, and human resource management.
At TexOak, Mr. Schott successfully managed two mergers including the merger with Equal, a Canadian public company dually listed on the New York Stock Exchange and the Toronto Stock Exchange and Equal?s subsequent privatization and redomestication. Mr. Schott was also instrumental in working with the CEO and the Board in guiding Petroflow?s predecessor through restructuring and bankruptcy, emerging as a private company with no debt and capital to grow. Prior to joining TexOak?s subsidiary, Petroflow, in 2005, Mr. Schott served in various senior roles with TDC Energy (?
TDC?) from 1996 through 2005. Prior to TDC, Mr. Schott was an oil and gas attorney with Liskow & Lewis in New Orleans. Mr. Schott is a graduate of Tulane University with a BBA in Management, an MBA, and a Juris Doctorate.
Mr. Schott is also a non-practicing unlicensed Certified Public Accountant.