Advasa Holdings, Inc. announced the appointment of William Witherspoon as Chief Financial Officer, effective October 6, 2026. Mr. Witherspoon, an independent director on the company's board, entered into an employment agreement with Advasa to fill the role vacated by the departure of Katharyn Field on August 27, 2026.
Grady Ryther, the company's Chief Executive Officer, will step down from his role as interim Chief Financial Officer following Mr. Witherspoon's appointment. Mr. Witherspoon will continue to serve as a member of the Board of Directors but will step down from the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee.
Mr. Witherspoon has served as an independent director since June 24, 2026. His professional background includes serving as Asset Acquisition Manager for UMcapital since January 2025, where he supports the confirmation and preparation of in-ground and SKR assets for potential acquisition. He has also served as Principal of Hubert Development since January 2020, leading multifamily and commercial real-estate projects through acquisition, pre-development, financing, construction, and stabilization. Additionally, he has worked as a Financial and Settlement Consultant with Forge Consulting since January 2017.
According to the filing, Mr. Witherspoon will receive an annual base salary of $200,000. He is eligible for discretionary bonuses and equity grants, as determined by the Board or a compensation committee. The agreement allows for the reimbursement of reasonable out-of-pocket business, entertainment, and travel expenses. The employment is at-will, and either party may terminate the agreement with at least 30 days' prior written notice.
