Northann Corp. elected Vincent La Scala to its Board of Directors on October 5, 2026, to replace Umesh Patel, who resigned. The company, which trades under the ticker symbol NCL on NYSE American LLC, disclosed the appointment in a Form 8-K filed with the U.S. Securities and Exchange Commission.
The board determined that La Scala qualifies as an independent director under Section 803A(2) and 803(B)(2) of the NYSE American Listed Company Guide and Rule 10A-3(b)(1) of the Securities Exchange Act of 1934. He is designated as financially literate and an audit committee financial expert. La Scala will serve as Chair of the Audit Committee and as a member of the Nomination and Compensation Committees.
La Scala brings more than 30 years of experience in financial services, with a focus on senior credit risk management and regulatory engagement. His career includes over three decades at Citigroup Inc., where he held Director-level positions in risk management for more than two decades. From 2021 through April 2023, he served as Director, Independent Commercial Risk Management, supporting Citi Commercial Bank’s U.S. Oil & Gas and U.S. Consumer & Healthcare businesses. Prior to that role, he was Commercial Risk Policy Owner for U.S. Oil & Gas from 2013 to 2021 and Director of Fundamental Credit Risk from 1999 to 2012.
Earlier in his career, La Scala worked as a Private Banker in the Arabian Gulf from 1989 to 1997, managing assets that grew from $48 million to over $450 million. He subsequently served as a Senior Quality Control Analyst from 1997 to 1999, rebuilding Citigroup's Know Your Customer program across Latin American markets. He holds an M.B.A. in Finance from Hofstra University and a B.A. from the State University of New York at Oneonta.
The filing also reported that former Chief Executive Officer Lin Li has agreed to sell all company securities he beneficially owns to an unrelated third-party investor. The transaction involves 1,803,750 shares of Common Stock and 625,000 shares of Series A Preferred Stock. Upon closing, which is pending completion of paperwork, Li will no longer hold any Northann Corp. securities.
Northann Corp. is headquartered at 2251 Catawba River Rd., Fort Lawn, SC 29714. The Form 8-K was signed by François Vachon, Co-Chief Executive Officer, on October 7, 2026.