Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
William Waldrop notified EVIO, Inc. of his resignation as Chief Executive
Officer and Chair of the Board of Directors effective December 31, 2020. Mr.
Waldrop's resignation is concurrent to expiration of his employment agreement
and was not the result of any disagreement or other dispute with the Company on
any matter relating to the Company's operations, policies, or practices. Mr.
Waldrop will continue to serve as a consultant to the company to assist with
transition to new CEO.
Appointment of Interim Chief Executive Officer
Effective January 1, 2021, Lori Glauser, Chief Operating Officer and President,
will serve as Interim Chief Executive Officer and Chair of the company. Ms.
Glauser's employment agreement has been renewed for a period of two years, with
a salary of $180,000 per year.
Ms. Glauser, age 51, has been Chief Operating Officer and Director of the
company since the company's inception in August, 2014. Ms. Glauser has 30 years'
experience in technology and strategic consulting. Ms. Glauser began her career
as an engineer at Stone & Webster Engineering in 1991. In 1995 she joined Stone
& Webster Management Consultants. From 2007 until 2014, Ms. Glauser held several
roles in management consulting and advised several startup companies. Her
positions included Senior Manager, Advisory Services at EY, Managing Consultant
at IBM Global Business Services, Product Manager at Itron, Inc., and Associate
Director at SNL Financial. Ms. Glauser holds a BS in Mechanical Engineering with
a minor in Materials Science from the University of New Hampshire, and an MBA
from the University of Alabama in Huntsville.
Forward-Looking Statements
Statements contained in this current report that are not statements of
historical fact are intended to be and are hereby identified as "forward-looking
statements" for purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995. Generally, forward-looking statements include
expressed expectations of future events and the assumptions on which the
expressed expectations are based. All forward-looking statements are inherently
uncertain as they are based on various expectations and assumptions concerning
future events and they are subject to numerous known and unknown risks and
uncertainties which could cause actual events or results to differ materially
from those projected. The Company undertakes no obligation to update or revise
this current report to reflect future developments except as otherwise required
by the Securities Exchange Act of 1934.
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