B. Riley Financial Announces CFO Transition
LOS ANGELES, May 19, 2025 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ('B. Riley' or the 'Company'), a diversified financial services company, today announced that Scott Yessner has been appointed Chief Financial Officer, effective June 3, 2025. Mr. Yessner, who has served as a strategic advisor for B. Riley Financial for the past two months, will succeed Phillip Ahn, who is departing to pursue another opportunity.
Mr. Yessner brings to B. Riley significant experience and a proven track record as the Chief Financial Officer of public and private companies, with a particular focus on leading corporate transformations. He previously served as CFO of California Expanded Metal Products Company (CEMCO), where he helped the company improve EBITDA by $40 million over two years, which ultimately culminated in CEMCO's sale. Prior to that, he was the CFO of Universal Technical Institute where he oversaw a transformation that delivered $45 million improvement in EBITDA and during which time the company's stock price increased 250 percent. Earlier in his career, he served as a divisional Chief Financial Officer for several large diversified financial services companies, including Wells Fargo Advisors and MUFG Union Bank.
Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial, commented: 'We are excited to welcome Scott as our next CFO and believe B. Riley will benefit from his background as both a finance executive and operator. Scott brings substantial experience as a public company CFO, having led successful business transformations and managed complex audits. We are confident he has the right skillset for B. Riley as we evolve our business and deliver value for our clients and shareholders.'
Mr. Yessner said, 'B. Riley has tremendous talent and capital markets capabilities, successfully creating value for their clients and shareholders for decades. Working with the B. Riley team and Phil the past two months has been a great experience and should enable a seamless CFO transition. I'm very excited to join and partner with Bryant, Tom and the B. Riley leadership team to deliver great value and dynamic solutions to our valuable clients and drive shareholder value.'
Mr. Riley added, 'Phil has been an instrumental member of our executive team for more than a decade, and we thank him for his many contributions and dedication to B. Riley throughout his tenure, including the past year as we executed a number of strategic transactions. We are excited for what we expect to be a seamless transition from Phil to Scott, who has been serving as a strategic advisor over the past two months. We wish Phil much success in his future endeavors.'
Tom Kelleher, Co-Chief Executive Officer of B. Riley Financial, commented: 'On behalf of the entire B. Riley team, I want to thank Phil for his leadership and dedication to the Company. Phil has been an important member of our team, and we wish him the very best as he embarks on his next opportunity.'
Mr. Ahn added, 'I am proud to have been a part of the B. Riley team for over a decade and am confident that the Company will continue to deliver upon its outlined strategic initiatives. I look forward to supporting Scott and the rest of the organization in this transition.'
B. Riley will file a Form 8-K with the SEC outlining the employment agreement entered into with Mr. Yessner. Under the terms of the agreement and as further detailed in the filing, the Compensation Committee of the B. Riley Board of Directors has granted Mr. Yessner the following equity awards: restricted stock of 100,000 shares of common stock upon start date; and restricted stock options exercisable for a total of 300,000 shares of common stock, of which a third are exercisable at $7 per share, a third are exercisable at $10 per share and a third are exercisable at $12.50 per share. One third of each tranche of options will vest on the first, second and third anniversary of the start date. Additional compensation details will be included in the 8-K.
About Scott Yessner
Mr. Yessner has held broad executive roles in financial services and diverse industrial companies with a track record of successful transformations. Mr. Yessner served as CFO with broad executive responsibilities for CEMCO, a building materials and steel company in Los Angeles where he led an effort to deliver $200 million of value creation in two and a half years. Mr. Yessner also served as CFO for Universal Technical Institute partnering with the organization to drive a company-wide transformation during which time the company's stock price increased by 250 percent. Prior to these roles, he served as divisional chief financial officer for Wells Fargo Advisors and MUFG Union Bank and held various finance and strategy roles at Jackson National Life Insurance Company. Mr. Yessner has also served as an advisor to private equity firms. Mr. Yessner received a B.A in Economics from the University of California, Los Angeles and is a CPA licensed in CA.
About B. Riley Financial
B. Riley Financial (BRF) is a diversified financial services company that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. BRF leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its subsidiaries and affiliated entities, BRF provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services. BRF opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. BRF refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates. For more information, please visit www.brileyfin.com.
Contacts
Investors
[email protected]
Media
[email protected]
View original content: https://www.prnewswire.com/news-releases/b-riley-financial-announces-cfo-transition-302458898.html
SOURCE B. Riley Financial
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
2 hours ago
- Fox News
Clever EV hack could reinvent diesel trucking
If you think electric trucking means buying a brand-new semi, think again. Long-haul trucks are now being upgraded with a surprising twist, thanks to California-based startup Revoy. Their electric boost doesn't replace diesel but works alongside it to cut emissions and fuel costs without major disruption. In 2025, transportation was the top source of greenhouse gas emissions in the United States. And for the first time, heavy-duty trucks edged out passenger vehicles in how much pollution they produce. That makes freight the low-hanging fruit in the fight to reduce emissions. But electrifying it? That's where things get tricky. Electric semis are pricey. They're also heavy, have limited range, and take too long to charge. Trucking companies, many of them small operators, run on razor-thin margins and can't afford long downtimes. Public fast-charging for trucks barely exists. And without more demand, investors aren't building new stations. That's the bottleneck. Revoy's solution flips the equation. Instead of replacing the truck, they simply electrify the space between the cab and trailer. Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts, and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide - free when you join my Imagine your standard diesel rig pulling onto the highway. Nothing looks unusual until you notice something new sandwiched between the truck and trailer. Revoy's innovation is a high-tech electric dolly with its own motor and a massive battery pack. The dolly carries a 575-kilowatt-hour battery, putting it in the same class as fully electric semis. But here's the clever part: it doesn't just trail along. It pushes the truck forward using its own powered axle, giving the diesel engine a break and saving fuel. All of this happens without modifying the truck or trailer. It connects to the truck's fifth-wheel hitch using a smart kingpin. It also plugs into the existing air and electrical lines between the cab and trailer. No hardwiring. No overhaul. Revoy designed it for fast installation, just minutes, no tools required. This isn't just about range. Revoy's dolly also turns any diesel rig into a smarter, safer machine. Using embedded sensors and cameras, the dolly monitors blind spots and feeds real-time data to a driver's smartphone app. It enhances lane stability, helps correct steering in crosswinds, and delivers regenerative braking that recharges the battery. It also enables automated reversing, especially useful for tight yards and docks. The best part? Drivers don't need to learn anything new. There's no extra dashboard. The truck drives as it always has, just with extra power, extra control, and extra safety. Charging has always been a weak point in electric freight. Even the fastest chargers take 30 minutes or more to top off a truck battery. Revoy dodges that altogether. Instead of plugging in, truckers pull into a Revoy swap station and exchange their depleted dolly for a freshly charged one. The process takes about five minutes, which is faster than refueling a diesel tank. The first swap stations are already live in Texas and Arkansas, with more coming soon. As the network grows, so does the vision of truly hybrid diesel-electric freight. And if the route doesn't include a Revoy station? No problem. The truck simply runs on diesel alone and drops off the dolly at the last location passed. Worried about capital expense? Revoy's business model removes the barrier entirely. Truckers and fleet operators don't purchase the dolly; they lease it per mile. That means zero capital investment and no maintenance headaches. The system is designed to pay for itself. Revoy estimates savings of over $5,000 per truck annually, mostly through reduced fuel consumption. In some cases, fleets have reported 3 to 5 times better fuel efficiency. And weight isn't an issue for most operators. While the dolly adds mass, most truckloads fill trailers by volume, not weight. Revoy says over 60% of loads qualify, making this a practical fit for the majority of long-haul routes. Revoy built its dolly system for U.S.-style single-trailer rigs, but the idea could scale globally. Countries like Australia, with vast, sun-drenched highways, could easily support dolly-swap stations powered by solar energy. Imagine swapping a charged dolly in the Outback instead of waiting an hour for a charger. Canada and other countries with twin-trailer B-Doubles would require a modified version, but the core concept remains powerful: electrify trucks without replacing them. The technology is modular. The logistics are scalable. The potential is massive. Electric trucks are still years away from becoming mainstream. But this electric add-on is already solving the biggest problems today. It's fast. It's smart. It works with the trucks that are already on the road. Instead of overhauling the entire trucking industry, this system works with what exists right now. You don't need a brand-new truck. You just need a smarter way to power it. Is adding electric power to diesel rigs a brilliant bridge or a distraction from real change? Let us know by writing us at Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts, and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide - free when you join my Copyright 2025 All rights reserved.
New York Post
2 hours ago
- New York Post
Paris Hilton's $63M mansion buy led US home sales in June
Paris Hilton and her husband led the US real estate market in June with their pricey purchase of Mark Wahlberg's former megamansion. The mammoth Beverly Hills estate cost Hilton and her venture capitalist husband, Carter Reum, a cool $63 million. Their purchase topped out Redfin's top 10 list of the country's most expensive home sales, as did five other California-based transactions. Agents told CNBC the recent ranking reflects a pattern of luxury real estate regaining momentum in fire-ravaged Los Angeles. Advertisement 9 Paris Hilton, pictured in June. GC Images 9 Hilton and her husband, Carter Reum, share two children — and a new place to call home. Evan Agostini/Invision/AP 9 Wahlberg and his wife Rhea Durham sold the impressive property for $55 million in 2023. Paul Barnaby Advertisement Indeed, Hilton and Reum, who share two young children, lost their $8.4 million oceanfront Malibu home to the Palisades Fire — one of several that raged through the state in January. Hilton was candid about the loss in a post to her millions of Instagram followers. 'Sitting with my family, watching the news, and seeing our home in Malibu burn to the ground on live TV is something no one should ever have to experience,' the heiress and influencer wrote. The sheer scale of her family's new home makes its eye-watering $63 million price a little more understandable. 9 A sun-lit dining room. Paul Barnaby Advertisement 9 One of two kitchens in the main house. Paul Barnaby 9 A wine and cigar cellar with a tasting area. Paul Barnaby 9 The outdoor pool includes a grotto, waterfalls and waterslides. Paul Barnaby The nearly 30,500-square-foot spread sits on 6 private acres. The extensive grounds feature a sports court, a skate park, a five-hole golf course and a pool worthy of a waterpark. A main house and a guesthouse include a collective 12 bedrooms — as well as a wine and cigar cellar, a home theater and staff quarters. Advertisement The mansion's sellers made a tidy profit from the deal, CNBC reported, even accounting for Los Angeles' hefty mansion tax. Their success makes Mark Wahlberg's $55 million sale of the home in 2023 look sadly premature. Hilton and Reum's purchase is currently the fifth priciest home sale of 2025, according to Redfin. Nicole Plaxen, an agent with the Beverly Hills Estates, told CNBC that LA's luxury market is being driven by displaced homeowners like Hilton. Plaxen also noted a return in foreign buyers, especially from China. 9 The Palisades Fire claimed modest starter homes and A-lister mansions alike. London Entertainment for NY Post 9 Hilton closed on the home five months after losing her family's Malibu beach house. Paul Barnaby The other 50% of Redfin's chart-topping June sales took place elsewhere: Three in coastal Florida, one in Manhattan and another on Lake Tahoe's Nevada side. All 10 sold for more than $30 million. New York's appearance in the June rankings was credited to the sale of a 50-foot-wide mansion in Midtown Manhattan. The sprawling 22-bedroom residence just off Fifth Avenue was built for a cousin of J.P. Morgan during the city's Gilded Age. The seller, previously reported at real estate developer Orin Wilf, cinched a $38.2 million deal on the property. Neither Wilf's sale nor Hilton's purchase comes even close to the year's most expensive deal so far. That superlative belongs squarely with the $225 million sale of three adjacent beachfront properties in Naples, Florida. The April transaction marked the second-highest home sale ever in the US, trailing Ken Griffin's $238 million penthouse purchase at 220 Central Park South in early 2019.
Yahoo
5 hours ago
- Yahoo
PagerDuty (PD) Climbs 7% on Analyst Upgrade, Sale Reports
We recently published . PagerDuty, Inc. (NYSE:PD) is one of the best-performing stocks on Monday. PagerDuty rallied for a second day on Monday, adding 7.06 percent to close at $16.83 apiece as investors took heart from an analyst upgrade and news that it was exploring a sale. In its market note, investment firm TD Cowen raised its price target and recommendation for PagerDuty, Inc. (NYSE:PD) to $22 from $17 and to 'buy' from 'hold' previously. This followed a report by Reuters on Friday, quoting sources privy to the matter, that PagerDuty, Inc. (NYSE:PD) was exploring a potential sale after receiving interest from buyers. Reuters said PagerDuty, Inc. (NYSE:PD) is currently working with Qatalyst Partners to facilitate the potential acquisition, and that investment bankers are now soliciting further buyer interest. Copyright: stokkete / 123RF Stock Photo According to TD Cowen, Qatalyst Partners has a strong track record of facilitating software mergers and acquisitions, adding that many of its facilitated transactions resulted in sales over the years. PagerDuty, Inc. (NYSE:PD) is a California-based software maker that helps businesses monitor their IT systems and respond to cyber incidents and outages. While we acknowledge the potential of PD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Sign in to access your portfolio
