Akazoo Appoints Michael Knott as Interim CEO
MUSIC LICENSING INC (SONG)
Company Research
Source: PR Newswire
NEW YORK and LONDON, May 1, 2020 /PRNewswire/ -- Akazoo S.A. (NASDAQ: SONG) ("Akazoo" or the "Company") today announced that its Board of Directors (the "Board") has appointed Michael Knott as the Company's interim Chief Executive Officer, effective immediately. This follows the decision by the Board to terminate Apostolos N. Zervos as Chief Executive Officer for cause. The Board has also requested that Mr. Zervos resign as a member of the Board.As previously announced on April 22, 2020, Akazoo formed a special committee of independent directors (the "Special Committee") to conduct an investigation into allegations in a report released by Quintessential Capital Management (the "QCM Report"). As part of the investigation, the Special Committee found evidence of conduct that the Special Committee believed to be inconsistent with the Company's policies, including a lack of cooperation in the investigation. The Board's decision to terminate Mr. Zervos was made following a recommendation f
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