Newegg Commerce, Inc. has appointed Richard Weil to the Company?s Board of Directors as one of three Board appointees that the Minority Representative is entitled to make to the Board. This appointment is effective April 1, 2024. Mr. Weil has served as VP of Finance at CarbonCapture, Inc., a climate technology company, since 2022, and co-founded Mount Wilson Ventures, an investment fund, in 2014.

Mr. Weil received his Bachelor of Arts degree in Political Science from Columbia University. Mr. Weil will receive standard compensation available to non-employee directors of the Company. Mr. Weil will assume the board seat previously occupied by Anthony Chow, Chief Executive Officer of Newegg.

Mr. Chow will continue to serve the Board in an advisory capacity as CEO of the Company. Newegg believes that the appointment of an independent outside director such as Mr. Weil, combined with Mr. Chow?s continued advisory role to the Board, enhances the Company?s corporate governance structure and provides value to the Company?s shareholders. Mr. Chow is uniquely qualified to assist the Board given his position as CEO and deep knowledge of Newegg?s business.

With Mr. Chow serving the Board in an advisory capacity, the Board can leverage his business acumen to provide a unique perspective, foster an important unity of leadership between the Board and management, and promote alignment of the Company?s strategy with its operational execution.