MarketWise CEO Mark Arnold resigns; Stephen Sjuggerud named interim CEO

MARKETWISE, INC.

Mark Arnold resigns as Chairman, CEO, and director effective Nov 22, 2022; not related to financial condition.
Separation agreement provides $8,510,225 to Arnold, subject to release and compliance.
Dr. Stephen Sjuggerud appointed interim CEO; he joined MarketWise in 2001 and leads the True Wealth franchise.
Sjuggerud's True Wealth has over 100,000 paid and 800,000 free subscriptions.
Board retains Heidrick & Struggles to conduct permanent CEO search.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Mark Arnold

Chairman and Chief Executive Officer

MKTW · MARKETWISE, INC.

Effective: 2022-11-22
Successor: Stephen Sjuggerud
Filed: November 23, 2022, 6:59 PM ET

On November 22, 2022, MarketWise, Inc. (the “Company”) accepted Mark Arnold’s resignation from his positions as Chairman of the Board of Directors (the “Board”) and Chief Executive Officer of the Company, and as a director of the Company, effective immediately.

Appointed (interim)

Stephen Sjuggerud

interim Chief Executive Officer

MKTW · MARKETWISE, INC.

Effective: 2022-11-22
Filed: November 23, 2022, 6:59 PM ET

On November 22, 2022, the Board appointed Dr. Stephen Sjuggerud, currently a director of the Company, to serve as interim Chief Executive Officer, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.99

Mark Arnold resigned as Chairman and Chief Executive Officer at MARKETWISE, INC..

Action: resigned
Role: Chairman and Chief Executive Officer

Exact text from the filing

On November 22, 2022, MarketWise, Inc. (the “Company”) accepted Mark Arnold’s resignation from his positions as Chairman of the Board of Directors (the “Board”) and Chief Executive Officer of the Company, and as a director of the Company, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.99

Stephen Sjuggerud was appointed as interim Chief Executive Officer at MARKETWISE, INC..

Action: appointed
Role: interim Chief Executive Officer

Exact text from the filing

On November 22, 2022, the Board appointed Dr. Stephen Sjuggerud, currently a director of the Company, to serve as interim Chief Executive Officer, effective immediately.

View on SEC.gov

MARKETWISE, INC. filing history →

Source: SEC EDGAR

accession 0001628280-22-030723

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