NextPlat Mourns Passing of CEO Charles M. Fernandez, Names Interim Leaders

NextPlat Corp has announced the sudden passing of Executive Chairman and CEO Charles M. Fernandez. The company has named Rodney Barreto as Interim Chairman of the Board and David Phipps as Interim Chief Executive Officer. Fernandez served as CEO since July 2021. The Board of Directors has made the appointments to ensure continuity and stability during this difficult time.

NextPlat Corp (NASDAQ: NXPL, NXPLW), a global e-commerce provider, has announced the sudden passing of its Executive Chairman and CEO, Charles M. Fernandez, on Saturday, May 24, 2025. The company has named Rodney Barreto as Interim Chairman of the Board and David Phipps as Interim Chief Executive Officer to ensure continuity and stability during this challenging time.

Mr. Fernandez, who served as CEO since July 2021, was a key figure in the company's growth and success. The Board of Directors has appointed Mr. Barreto, who has served as Director of NextPlat since January 2022, as Interim Chairman. Mr. Barreto's extensive business career, including roles at the Barreto Group and Capital City Consulting, and his leadership in various philanthropic and sports committees, make him well-positioned to guide the company through this transitional period.

David Phipps, currently the Managing Director of NextPlat's UK subsidiary, GTC, and President of its two US subsidiaries, Orbital Satcom and Outfitter Satellite, has been appointed as Interim Chief Executive Officer. Mr. Phipps previously served as CEO and Chairman from 2015 to 2021, leading the company from its start-up phase to its listing on Nasdaq in 2021.

The company has expressed its shock and sadness over Mr. Fernandez's passing and has extended its condolences to his family. Out of respect for the family's privacy, NextPlat will not be providing any additional comments at this time.

NextPlat, founded to capitalize on high-growth sectors and markets including technology and healthcare, operates an e-Commerce communications division and pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care.

The appointments of Mr. Barreto and Mr. Phipps come at a critical juncture for NextPlat, which aims to grow and expand its e-commerce capabilities for consumer and healthcare products. The company's forward-looking statements, as outlined in its filings with the Securities and Exchange Commission (SEC), highlight potential risks and uncertainties, including the ability to launch additional e-commerce capabilities and grow as intended.

The sudden loss of Mr. Fernandez underscores the importance of leadership succession planning in ensuring the continued success and stability of the company. The interim appointments of Mr. Barreto and Mr. Phipps are aimed at maintaining continuity and stability during this period of transition.

References:
[1] https://www.prnewswire.com/news-releases/nextplat-issues-statement-on-the-passing-of-its-executive-chairman-and-ceo-charles-m-fernandez-302465484.html
[2] https://finance.yahoo.com/news/nextplat-issues-statement-passing-executive-120100323.html
[3] https://quantisnow.com/insight/nextplat-issues-statement-on-the-passing-of-its-executive-chairman-and-ceo-charles-m-6058194