Benzinga | Oct 1, 2021 04:10PM EDT

Karat Packaging Announces Departure Of CFO, Appoints Peter Lee As Interim CFO

Karat Packaging Inc. (NASDAQ:KRT), a specialty distributor and manufacturer of environmentally friendly, disposable foodservice products and related items, today announced that Ann T. Sabahat, chief financial officer, has resigned for personal reasons, effective October 8, 2021.



On October 1, 2021, Karat's board of directors appointed Peter Lee to serve as its interim chief financial officer, effective October 8, 2021, until a successor is named. The company has initiated a search for a new chief financial officer.

Alan Yu, chairman and chief executive officer, said, "We are pleased that Peter, who knows our company well, has agreed to serve as our interim chief financial officer again. His expertise and history with Karat will help ensure a smooth transition of Karat's financial leadership. On behalf of the board, we thank Ann for her service to Karat Packaging and wish her well."

Mr. Lee, a Certified Public Accountant and founder and managing partner of PJ LLP, previously served as Karat Packaging's interim chief financial officer from October 2018 to October 2019, and his firm has remained an advisor to Karat throughout the IPO process to present. Mr. Lee previously was an audit partner at RSM US LLP and has more than 20 years of experience advising companies on various accounting and capital raising matters.