Phoenix Motor Forms Special Committee to Probe CEO Xiaofeng Denton Peng's Alleged Misconduct, Former CFO J. Mark Hastings Tapped as Interim Chief
Phoenix Motor Forms Special Committee to Probe CEO Xiaofeng Denton Peng's Alleged Misconduct, Former CFO J. Mark Hastings Tapped as Interim Chief
On May 17, 2024, the Board of Directors (the "Board") of Phoenix Motor Inc. (the "Company") established a special committee to investigate various allegations against Mr. Xiaofeng Denton Peng, the current Chief Executive Officer of the Company ("CEO"), including but not limited to a breach of his fiduciary duty as the CEO of the Company, Chairman and Director of the Board, and as a majority shareholder of the Company by causing the Company to enter into related party transactions, including that certain guarantee, dated March 6, 2024, in favor of Streeterville Capital, LLC. Pursuant to the guaranty, the Company is obligated to guarantee repayment of a debt of $14.98 million incurred by SPI Energy Co., Ltd. (NASDAQ:SPI) where Mr. Peng is currently serving as CEO. The Board believes that this is an unauthorized related party transaction that harms the Company and its minority shareholders. In light of the foregoing, the Board has suspended Mr. Peng from his position and responsibilities as the CEO of the Company with immediate effect, pending the outcome of the investigation. The Company's former Chief Financial Officer, J. Mark Hastings, has been appointed by the Board to assume the role of interim CEO until the conclusion of the investigation. A further statement will be made when the investigation is complete.
2024 年 5 月 17 日，菲尼克斯汽车公司（“公司”）董事会（“董事会”）成立了一个特别委员会，负责调查针对公司现任首席执行官（“CEO”）彭晓峰先生的各种指控，包括但不限于违反其作为公司首席执行官、董事会主席和董事以及作为公司大股东的信托义务的行为公司促使公司于2024年3月6日进行有利于斯特里特维尔的关联方交易，包括某些担保资本有限责任公司。根据担保，公司有义务为偿还彭先生目前担任首席执行官的SPI能源有限公司（纳斯达克股票代码：SPI）产生的1,498万美元债务提供担保。董事会认为，这是一项未经授权的关联方交易，损害了公司及其少数股东。鉴于上述情况，在调查结果出来之前，董事会已立即暂停彭先生作为公司首席执行官的职位和职责。该公司前首席财务官J. Mark Hastings已被董事会任命担任临时首席执行官一职，直到调查结束。调查完成后，将发表进一步的声明。
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