Odyssey Semiconductor appoints co-founder Rick Brown as CEO; Mark Davidson departs

Odyssey Semiconductor Technologies, Inc.

Rick Brown, co-founder and CTO, named CEO effective Dec 1, 2023, replacing Mark Davidson.
Mark Davidson and CAO Laura Krauss move to consulting roles as part of cost reduction actions.
Company states it is financially constrained, seeking longer-term financing and strategic alternatives.
Progress on scaling Vertical GaN technology; larger device for higher current being developed.
Foundry services projects generate Q4 revenue with potential recurring revenue for 2024.

item 5.02 item 7.01 item 9.01

Executive movements

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

Departed

Laura Krauss

Chief Accounting Officer

Odyssey Semiconductor Technologies, Inc.

Effective: 2023-12-01
Filed: December 6, 2023, 6:59 PM ET

Due to cost reduction actions, both Mark Davidson and Laura Krauss, the Company’s Chief Accounting Officer, have moved to consulting roles for the company going forward.

Appointed

Rick Brown

Chief Executive Officer

Odyssey Semiconductor Technologies, Inc.

Effective: 2023-12-01
Filed: December 6, 2023, 6:59 PM ET

Effective December 1 st , 2023, Odyssey Semiconductor Technologies, Inc. (the “Company”) Dr. Rick Brown, co-founder, CTO, and Board member, has been appointed as CEO of Odyssey, replacing Mark Davidson.

Departed

Mark Davidson

Chief Executive Officer and Board Member

Odyssey Semiconductor Technologies, Inc.

Effective: 2023-12-01
Successor: Rick Brown
Filed: December 6, 2023, 6:59 PM ET

Mark Davidson is stepping down as CEO and Board Member and is no longer employed at Odyssey.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.9

Laura Krauss changed role as Chief Accounting Officer at Odyssey Semiconductor Technologies, Inc..

Action: moved to consulting role
Role: Chief Accounting Officer

Exact text from the filing

Due to cost reduction actions, both Mark Davidson and Laura Krauss, the Company’s Chief Accounting Officer, have moved to consulting roles for the company going forward.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Rick Brown was appointed as Chief Executive Officer at Odyssey Semiconductor Technologies, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Effective December 1 st , 2023, Odyssey Semiconductor Technologies, Inc. (the “Company”) Dr. Rick Brown, co-founder, CTO, and Board member, has been appointed as CEO of Odyssey, replacing Mark Davidson.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Davidson departed as Chief Executive Officer and Board Member at Odyssey Semiconductor Technologies, Inc..

Action: stepping down
Role: Chief Executive Officer and Board Member

Exact text from the filing

Mark Davidson is stepping down as CEO and Board Member and is no longer employed at Odyssey.

View on SEC.gov

Source: SEC EDGAR

accession 0001437749-23-033750

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