Pareteum Corporation announced that as a result of the sale closing, on July 11, 2022, Mary Beth Vitale, Robert L. Lippert, Luis Jimenez-Tu on and Robert H. Turner resigned from their positions as independent directors of the Board, in each case, effective immediately. On July 5, 2022, the Board appointed Anthony Saccullo to serve as a director of the Company and as the Company's Wind Down Officer, effective as of July 12, 2022. Since May 2010, Mr. Saccullo, 45, has served as founder and managing member of A.M. Saccullo Legal, LLC, a Delaware-based law firm rendering services in commercial bankruptcy, corporate and commercial litigation, and corporation transactions and formation.

Mr. Saccullo is also the founding member of Saccullo Business Consulting, a business consulting firm that offers non-legal bankruptcy services to companies and commercial bankruptcy estates, a position he has held since May 2010.