---
schema_version: "secwatch.filing_event.v1"
accession: "0001753926-24-000103"
form_type: "8-K"
ticker: "CJAX"
cik: "0001763925"
company_name: "CoJax Oil & Gas Corp"
filed_at: "2024-01-16T23:59:59+00:00"
generated_at: "2026-06-06T23:21:46.843766+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CoJax Oil and Gas appoints new CEO/Chairman Downs; former CEO Guzy becomes CFO

## Summary
- Wm. Barrett Wellman resigned as CFO and Secretary; Jeffrey Guzy succeeded as CFO, Secretary, Treasurer.
- Jeffrey Guzy resigned as CEO, President, Chairman; William R. Downs appointed CEO, President, Chairman and director.
- Downs receives $150k/year base salary and 100,000 shares of common stock upon signing employment agreement.
- Guzy's new employment agreement provides $100k/year base salary, convertible to shares at $2.00 or market price.
- Board increased from two to three members; Downs fills new directorship.

## SEC filing metadata
- accession: 0001753926-24-000103
- form_type: 8-K
- ticker: CJAX
- cik: 0001763925
- company_name: CoJax Oil & Gas Corp
- filed_at: 2024-01-16T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.02, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1763925/000175392624000103/0001753926-24-000103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1763925/000175392624000103/g083948_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001753926-24-000103
- JSON: https://secwatch.observer/filing/0001753926-24-000103.json
- Plain text: https://secwatch.observer/filing/0001753926-24-000103.txt

## Key facts
- Executive change
  Wm. Barrett Wellman resigned as Chief Financial Officer at CoJax Oil & Gas Corp.
  - Action: resigned
  - Role: Chief Financial Officer
  source text: Effective as of January 10, 2024, Wm. Barrett Wellman resigned from his positions as Chief Financial Officer and Secretary of CoJax Oil and Gas Corporation, a Virginia corporation (the “Company”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1763925/000175392624000103/0001753926-24-000103-index.htm
- Executive change
  William R. Downs was appointed as Chief Executive Officer at CoJax Oil & Gas Corp.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: effective immediately upon Mr. Guzy’s resignation from positions as Chief Executive Officer, Chairman of the Board and President, the Board appointed William R. Downs as Chief Executive Officer, President, and Chairman.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1763925/000175392624000103/0001753926-24-000103-index.htm
- Executive change
  Jeffrey J. Guzy resigned as Chief Executive Officer at CoJax Oil & Gas Corp.
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On January 10, 2024, Mr. Guzy resigned from Chief Executive Officer, President and Chairman of the Board positions.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1763925/000175392624000103/0001753926-24-000103-index.htm
- Executive change
  William R. Downs was appointed as Director at CoJax Oil & Gas Corp.
  - Action: appointed
  - Role: Director
  source text: the Board increased its size from two directors to three directors pursuant to the Bylaws of the Company and appointed William R. Downs to fill this new directorship, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1763925/000175392624000103/0001753926-24-000103-index.htm
- Executive change
  Jeffrey J. Guzy was appointed as Chief Financial Officer at CoJax Oil & Gas Corp.
  - Action: appointed
  - Role: Chief Financial Officer
  source text: Effective immediately upon Mr. Wellman’s resignation, the board of directors of the Company (the “Board”) appointed Jeffrey J. Guzy as the Company’s Chief Financial Officer, Secretary and Treasurer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1763925/000175392624000103/0001753926-24-000103-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.