Advasa names board member William Witherspoon as CFO

Advasa Holdings, Inc. (Nasdaq: ADBT) has appointed William Witherspoon as Chief Financial Officer, effective October 6, 2026, according to a press release from the company.

Witherspoon had served on the company's Board of Directors as an independent director since June 24, 2026. With his appointment as CFO, he transitions to a non-independent director role and has stepped down from the Board's Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee.

CEO Grady Ryther, who had been serving as interim CFO following the departure of the previous CFO on August 27, 2026, has stepped down from that interim role and will continue as Chief Executive Officer.

Witherspoon's professional background includes asset acquisition, real estate development, financing, and financial consulting. Since January 2025, he has served as Asset Acquisition Manager for UMcapital. Since January 2020, he has served as Principal of Hubert Development, overseeing multifamily and commercial real estate projects. Since January 2017, he has concurrently served as a Financial and Settlement Consultant with Forge Consulting, advising high-net-worth clients on trust, estate, insurance, and long-term financial strategies.

Witherspoon holds an M.B.A. from George Washington University and a B.S. in Housing and Community Development from the University of Georgia.

Additional details regarding the appointment and employment agreement are available in the company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on October 7, 2026.

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