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Trump-backed SPAC Digital World names new CFO

Published 04/13/2023, 07:14 AM
Updated 04/13/2023, 04:41 PM
© Reuters. FILE PHOTO: Former U.S. President Donald Trump delivers remarks on the day of his court appearance in New York after being indicted by a Manhattan grand jury following a probe into hush money paid to porn star Stormy Daniels, in Palm Beach, Florida, U.S.,
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(Reuters) - Digital World Acquisition Corp, a blank-check firm that is set to merge with former U.S. President Donald Trump's media and technology company, on Thursday named Katherine Chiles as its chief financial officer.

The development comes after Digital World in March ousted Chief Executive Patrick Orlando, saying that due to "unprecedented headwinds faced by the company" the board had agreed to select a new management team.

The company also named Alexander Cano as president and secretary on March 11, according to a filing on Thursday.

Chiles was previously a senior financial analyst for Total System Services (NYSE:TSS), a payment solutions provider, and has worked for ING Americas.

In October 2021, Trump's newly formed media company, Trump Media & Technology Group, announced a deal to go public by merging with Digital World. The deal is now in doubt amid investigations by the Justice Department and the Securities and Exchange Commission, which have delayed its closing.

© Reuters. FILE PHOTO: Former U.S. President Donald Trump delivers remarks on the day of his court appearance in New York after being indicted by a Manhattan grand jury following a probe into hush money paid to porn star Stormy Daniels, in Palm Beach, Florida, U.S., April 4, 2023. REUTERS/Marco Bello

Late last year Digital World's Chief Financial Officer Luiz Braganza left the company.

As of last close, the company's shares have dropped more than 13% this year.

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