Tempo Automation cuts 90% workforce, CFO resigns; going concern doubt

Tempo Automation Holdings, Inc.

Board approved termination of 62 employees, reducing workforce from ~69 to 7; completed July 14, 2023.
CEO Joy Weiss and CTO Ralph Richart take 50% base salary reductions effective July 15, 2023.
CFO Benton resigns effective July 14, remains director; Keith Tainsky appointed Interim CFO.
Company reiterates substantial doubt about ability to continue as a going concern, seeks capital.
No material termination benefit charges expected from the workforce reduction.

item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

Keith Tainsky

Interim Chief Financial Officer

Tempo Automation Holdings, Inc.

Effective: 2023-07-15
Filed: July 17, 2023, 7:59 PM ET

On and effective as of July 15, 2023, the Board appointed Keith Tainsky, the Company's Vice President of Finance and Business Operations, as Interim Chief Financial Officer of the Company.

Departed

Benton

Chief Financial Officer

Tempo Automation Holdings, Inc.

Effective: 2023-07-14
Successor: Keith Tainsky
Filed: July 17, 2023, 7:59 PM ET

On and effective as of July 14, 2023, Mr. Benton resigned his position as Chief Financial Officer of Tempo Automation Holdings, Inc. (the “Company”).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Keith Tainsky was appointed as Interim Chief Financial Officer at Tempo Automation Holdings, Inc..

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

On and effective as of July 15, 2023, the Board appointed Keith Tainsky, the Company's Vice President of Finance and Business Operations, as Interim Chief Financial Officer of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Benton resigned as Chief Financial Officer at Tempo Automation Holdings, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On and effective as of July 14, 2023, Mr. Benton resigned his position as Chief Financial Officer of Tempo Automation Holdings, Inc. (the “Company”).

View on SEC.gov

Source: SEC EDGAR

accession 0001104659-23-081448

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