11:10 AM EDT, 09/10/2024 (MT Newswires) -- IZEA Worldwide ( IZEA ) said Tuesday it formed a partnership with GP Investments to launch a series of value-enhancing initiatives and enhanced its board with the appointment of two GP Investments executives.

Antonio Bonchristiano and Rodrigo Boscolo of GP Investments are joining IZEA's ( IZEA ) board, the company said.

The company's chairman and chief executive roles are being separated to enhance governance, with Lindsay Gardner being appointed as chairman of IZEA's ( IZEA ) board.

The company is increasing its share buyback program from $5 million to $10 million and will establish a new strategy & capital allocation committee to assess strategic options, capital management, and cash flow.

The company also said it is committed to pursuing merger and acquisition opportunities.

Shares of IZEA ( IZEA ) were up 7.5% in recent Tuesday trading.

Price: 2.30, Change: +0.16, Percent Change: +7.48