Movella CEO Ben A. Lee resigns; Eric Salzman named Interim CEO effective Jan 1, 2024

Movella Holdings Inc.

CEO Ben A. Lee resigns effective Dec 31, 2023; no disagreement; will serve as consultant for 3 months.
Board appoints independent director Eric Salzman as Interim CEO effective Jan 1, 2024.
Salzman to receive $480k base salary plus up to $60k per 6-month bonus; $300k change-in-control bonus.
Company entered into waiver under Note Purchase Agreement regarding Q1/Q2 2023 restatement disclosures and financial delivery.

item 1.01 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

Ben A. Lee

President and Chief Executive Officer

Movella Holdings Inc.

Effective: 2023-12-31
Successor: Eric Salzman
Filed: December 20, 2023, 6:59 PM ET

On December 15, 2023, the Company and Ben A. Lee mutually agreed to Mr. Lee’s resignation from his position as President and Chief Executive Officer of the Company, as well as from the Board of Directors of the Company (the “Board”), each effective December 31, 2023

Appointed (interim)

Eric Salzman

Interim Chief Executive Officer

Movella Holdings Inc.

Effective: 2023-12-31
Filed: December 20, 2023, 6:59 PM ET

On December 15, 2023, the Board appointed Eric Salzman as the Company’s Interim Chief Executive Officer in connection with Mr. Lee’s resignation from that position, effective as of the Effective Date.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ben A. Lee resigned as President and Chief Executive Officer at Movella Holdings Inc..

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

On December 15, 2023, the Company and Ben A. Lee mutually agreed to Mr. Lee’s resignation from his position as President and Chief Executive Officer of the Company, as well as from the Board of Directors of the Company (the “Board”), each effective December 31, 2023

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Eric Salzman was appointed as Interim Chief Executive Officer at Movella Holdings Inc..

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

On December 15, 2023, the Board appointed Eric Salzman as the Company’s Interim Chief Executive Officer in connection with Mr. Lee’s resignation from that position, effective as of the Effective Date.

View on SEC.gov

Source: SEC EDGAR

accession 0001628280-23-042071

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