09/05/2024 | Press release | Distributed by Public on 09/05/2024 14:11
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 29, 2024, Robert B. Ladd resigned from his position as Chief Executive Officer, President, and Acting Chief Financial Officer of MGT Capital Investments, Inc. (the "Company"), and as a member of the Company's Board of Directors, effective August 29, 2024. Mr. Ladd's decision to resign was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices.
On September 2, 2024, the Company's Board of Directors appointed Paul R. Taylor, 65, to serve as Interim Principal Executive Officer and Interim Principal Financial Officer. Before joining the Company, Mr. Taylor has served as Chief Executive Officer of Dinostar/RPM One Inc. since he co-founded the entity in 2003. Mr. Taylor also served as a consultant to the Board of Directors of XNET Investments from 2006 to 2019.
In connection with his new role, Mr. Taylor will receive $10,000 per month, with $5,000 per month payable in cash and the remaining $5,000 per month being deferred.