ECD Automotive Design Inc. has announced that the company’s chairman, Benjamin Piggott, has been appointed chief financial officer, effective Sept. 16, 2024, succeeding Raymond Cole, who is stepping down for personal reasons.
“We are pleased to welcome Ben to the operations side of the business,” said Scott Wallace, CEO of ECD Auto Design. “Ben has experience building and investing in successful businesses. Ben has been instrumental in ECD Auto Design emerging from our SPAC business combination and in the early days of being a public company, serving as the chairman of our board. We look forward to working even closer together in the future.”
Before serving as ECD Auto Design’s chairman, Piggott was the chairman and chief executive officer of EF Hutton Acquisition Corporation I, the SPAC through which ECD Auto Design became a public company. Piggott has been a managing director at EF Hutton, a middle market investment bank, since its inception in June 2020.
Prior to joining EF Hutton, Piggott was head of corporate development at Laird Superfood Inc. and helped to successfully negotiate the sale of a minority equity stake in the company to Danone S.A.
Piggott spent 15 years in the investment industry, 10 of which were with the small cap team at Fidelity Management & Research Company, where he served as a research analyst and sector portfolio manager. Piggott received his Bachelor of Science in Finance from Bentley University in 2002.
Cole will remain with ECD Auto Design in a consulting role on an as-needed basis through the first half of 2025 to help ensure a seamless transition, according to the company.
“Ray has been crucial guiding ECD Auto Design to the point we are at and we are sad to see him go. We are grateful for the contribution he has made as we continue to position this company for growth,” Wallace continued.
In conjunction with Piggott’s appointment as the company’s CFO, both Piggott and Thomas Humble have resigned as members of the company’s board of directors and chief executive officer Scott Wallace was appointed the chairman of board.
