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[March 26, 2014]
BERKSHIRE HOMES, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers
(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers On March 25, 2014, the board of directors appointed Munjit Johal to act as our Treasurer and Chief Financial Officer. His appointment will commence April 1, 2014.
Following this appointment, the board accepted the resignation of Llorn Kylo as our former Treasurer and Chief Financial Officer. Mr. Kylo continues to serve on our board of directors and as our President, CEO and Secretary.
Munjit Johal, age 58, is a director and Chief Financial Officer of SearchCore, Inc. (formerly General Cannabis, Inc.) since October 20, 2006. Additionally, Mr.
Johal serves as the Controller of High Tower Capital, Inc., where he has served since January 2007. Prior to that, Mr. Johal has served as a financial officer of various companies including Pacific Heritage Bank as Executive Vice President. From 1981 to 1987 Mr. Johal was a Senior Analytical Manager for Officer of Thrift Supervision, Department of the Treasury (formerly Federal Home Loan Bank Board, the 11th District). Mr. Johal oversaw a staff responsible for, among other things, monitoring banking activities and enforcement actions for lending institutions and holding companies. Mr. Johal's skill set at researching, reviewing, analyzing, managing and overseeing entities from a financial prospective provides valuable direction and guidance as it relates to our reporting procedures. Mr. Johal's regulatory experience and other prior experience with public companies and banks as a compliance officer, in additional to being a CFO, is beneficial to the company with respect to internal controls, disclosures and complying with necessary regulatory requirements.
In total, Mr. Johal has over 30 years of broad experience in banking, accounting, finance and management in the private and public sector. Mr. Johal earned his MBA from the University of San Francisco in 1980. He received his BS degree in History from the University of California, Los Angeles, in 1978.
There are no family relationships between Mr. Johal and any of our directors or executive officers.
Mr. Johal has not had any material direct or indirect interest in any of our transactions or proposed transactions over the last two years. At this time, we do not have any employment agreement with Mr. Johal.
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