FlexShopper Inc. filed SEC Form 8-K: Leadership Update, Other Events
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CURRENT REPORT ON FORM 8-K
FlexShopper, Inc. (the “Company”)
August 6, 2025
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 6, 2025, the Board of Directors of the Company terminated the employment of H. Russell Heiser Jr., the Corporation’s Chief Executive Officer and Chief Financial Officer, effective immediately.
As reported in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 5, 2025, John Davis, the Company’s President and Chief Operating Officer, has assumed the duties of the Company’s principal executive officer.
Item 8.01. Other Events.
On August 11, 2025, the Company entered into an engagement letter with North Country Capital LLC, pursuant to which it has been engaged to provide to the Company interim management and restructuring advisory services, including a chief restructuring officer. Matthew A. Doheny, President of North Country Capital, will serve as Chief Restructuring Officer of the Company. Mr. Doheny has nearly three decades of financial and restructuring expertise, as well as experience leading numerous financial and operational restructurings.
Mr. Doheny has served as the President of North Country Capital since 2011. North Country Capital is focused on advisory assignments and investing private capital targeted at special situation opportunities. Mr. Doheny has also served as the Chief Restructuring Officer of Yellow Corporation, one of the largest logistics and less-than-truckload networks in North America, since 2021.
Mr. Doheny previously served as the Chief Restructuring Officer of MatlinPatterson Global Partners, a global private equity fund. He has served on numerous boards of directors for various portfolio companies, overseeing value preservation and creation. Mr. Doheny started his career in finance at Deutsche Bank Securities Inc., where he was a Managing Director and headed a proprietary group investing in special situation opportunities. He then became a Portfolio Manager at hedge fund Fintech Advisory Ltd., as well as a Managing Director at HSBC Securities Inc. on teams investing in global special situation opportunities. Mr. Doheny holds a B.A. degree in Political Science from Allegheny College and a J.D. from Cornell University Law School.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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FLEXSHOPPER, INC. | ||
| Date: August 12, 2025 | By: |
/s/ John Davis | |
| Name: | John Davis | ||
| Title: | President and Chief Operating Officer | ||
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