MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--New Asset Exchange (NAX), a company that brings liquidity to corporate assets, today announced it has appointed Joe Euteneuer as a member of its Board of Directors and Chair of the company’s Finance and Audit Committees. Euteneuer, whose most recent role was as CFO at Mattel Inc, brings over thirty years of industry experience to NAX’s Board.
Following the official launch of the company in January 2021, the appointment of Euteneuer to the NAX Board of Directors emboldens NAX’s vision of creating a new model that launches corporate asset-backed products, ventures and securities and ultimately brings liquidity to currently illiquid corporate assets.
Prior to his time at Mattel Inc, Euteneuer held CFO roles at companies including Sprint, Qwest, Sirius XM Radio and Comcast. His cross-sector expertise will add value to NAX’s promising progress to date. The company has already raised $65m USD from 12 institutional, family office and corporate investors across North America, Europe and Asia, valuing the company at over $300m USD, and attracted several high-profile business figures to its Board, including Frank Strauß, former Global CEO of Private and Commercial Banking at Deutsche Bank.
NAX is already working with leading global businesses in industries including energy, healthcare and consumer goods, and is supported by operating partners from global leaders in trading, banking and underwriting.
Jeff Schumacher, CEO, NAX said: “The appointment of Joe adds further significant experience and expertise to the NAX Board. Through his three decades of experience at blue chip companies, Joe has gained an unrivalled understanding of the need for companies to maximise every asset in generating strong operational performance. The combination of myself, Frank and now Joe on the Board will be formidable as NAX pioneers new models for corporate asset commercialization and liquidity creation.”
Joe Euteneuer, Board member and Chair of the Finance and Audit Committees, NAX said: “Jeff’s vision for NAX is very exciting and I am honored to join the company at this important stage of its development. Our proposition and place in the market is truly unique, and NAX’s ability to create markets that don’t exist will bring both wealth creation and monetization to a wide array of untapped industries. The pandemic has only accelerated the need for companies to harness innovation and operate more efficiently, and NAX’s business model can revolutionize corporates’ ability to achieve better performance and secure critical liquidity.”
NAX is a pioneer in transforming corporate assets with cutting-edge financial and technology models. NAX aims to bring liquidity to illiquid assets, democratize access to markets and unlock untapped value for invited corporate partners in key industries. It is structured in three core components: NAX Development Group powered by Genesis Project, NAX Technology Group and NAX Capital. Founded in 2018, the company is headquartered in Manhattan Beach, CA, with European headquarters located in Cologne, Germany. For more information, please visit www.naxgrp.com.