NextPlat Corp. has named Rodney Barreto as chairman of the board and David Phipps as CEO.
The appointments, announced Sept. 9, make permanent the interim roles both men had held since the death of the company’s previous chairman and CEO in May. NextPlat Corp. is a global consumer products company that delivers health care and technology solutions through its ecommerce and retail channels.
About the new NextPlat chairman and CEO
Barreto, a NextPlat director since January 2022, has had more than three decades of business and civic leadership. He leads the Barreto Group, is a partner at Capital City Consulting, and serves as chair of the FIFA Miami World Cup Host Committee 2026. He also chaired three Miami Super Bowl host committees.
Phipps, who remains president of NextPlat, has overseen the company’s global ecommerce and communications operations and guided its Nasdaq listing in 2021 during an earlier tenure as CEO and chairman.
“Although we are early in a multi-phase process, initial results of our efforts give me confidence that the actions we are taking are necessary and will play a critical role in generating shareholder value in the months ahead,” Phipps said.
The leadership appointments follow a June shareholder update in which management pledged to streamline operations, reduce costs, and improve efficiency. Since then, NextPlat has reorganized its board, added health care executives, and expanded its 340B drug discount business with three new clinic contracts. The company also secured a subcontract for prescription management and fulfillment services with a government contractor. The 340B drug pricing program is a government program that requires pharmaceutical manufacturers to sell outpatient drugs at a significant discount to eligible hospitals and certain other “covered entities.”
To lower expenses, NextPlat has consolidated its headquarters in Hallandale Beach, Florida, and exited a long-term lease in Coconut Grove, a move expected to trim about $240,000 in annual overhead beginning in 2026. The company also launched a share repurchase program during the third quarter.
NextPlat said these steps are part of a broader plan to strengthen its financial footing and position its health care and ecommerce operations for sustainable growth.
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