Agrify Corporation (Nasdaq:AGFY) (“Agrify” or the “Company”), the most innovative and vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry, today announced the appointment of Barry Turkanis as an independent director on its Board of Directors. Mr. Turkanis replaces Timothy Oakes, who recently resigned from the Board of Directors in order to become the Company’s Chief Financial Officer. Mr. Turkanis will also serve on the Board of Directors’ Audit Committee as well as its Nominating and Corporate Governance Committee.
“As we continue to gain momentum and mobilize for our next phase of accelerated growth, we have made it the highest priority to align ourselves with the right partners, and Barry’s addition to Agrify’s Board of Directors is another example of our commitment to assembling a truly exemplary support system,” said Raymond Chang, Chairman and CEO of Agrify. “Barry has had a long and illustrious career including over 15 years at Goldman Sachs, and his vast accomplishments across finance, private equity, venture capital, and real estate will make him a tremendous resource to our team. Furthermore, Barry’s expansive knowledge around asset and mortgage-backed securities should be instrumental in helping us improve the execution around future Agrify Total Turn-Key Solution deals in a variety of ways including structuring, compliance, alternative third-party financing, securitization, and ongoing management and support.”
Mr. Turkanis has had a highly successful career in institutional sales and trading with over 22 years of experience at Salomon Brothers and Goldman Sachs. At Goldman Sachs, Mr. Turkanis held multiple leadership positions during his more than 15 years of service, including Managing Director in the Fixed Income, Currency and Commodities Division and Co-Head of the Mortgage-Backed Securities Department. Mr. Turkanis subsequently co-founded Ocean Gate Capital Management, which is engaged in money management, private equity investing, and real estate development, and he continues to serve as a principal with the firm to this day. More recently, Mr. Turkanis co-founded NXT Ventures Management, a venture capital firm with investments in over 40 portfolio companies. Mr. Turkanis is a board member or board observer for several emerging companies, and he is also actively involved with a number of charitable organizations in the Boston area. Mr. Turkanis earned a B.S. from Syracuse University and a J.D. from Boston College Law School.
