Management ChangeNov 5, 2026, 05:27 PM
Algorhythm Holdings Appoints Gregory D. Smith as New CEO and Chairman
AI Summary
Algorhythm Holdings, Inc. announced a leadership transition with the immediate resignation of Andrew Thompson as CEO and Chairman. Gregory D. Smith has been appointed as the new CEO and Chairman. Mr. Smith's employment agreement includes a base salary of $375,000, an annual bonus of up to 50% of his base salary, and a grant of 2,119,542 restricted shares. The agreement also outlines severance benefits and equity awards.
Key Highlights
- Andrew Thompson resigned as CEO and Chairman of Algorhythm Holdings, Inc. effective immediately.
- Gregory D. Smith appointed as the new CEO and Chairman of Algorhythm Holdings, Inc.
- Gregory D. Smith's employment agreement includes an annual base salary of $375,000, potentially rising to $480,000.
- Mr. Smith is eligible for an annual bonus of up to 50% of his base salary.
- Algorhythm Holdings will grant Mr. Smith 2,119,542 restricted shares of common stock.
- Severance package for Mr. Smith includes two times base salary and bonus, plus 18 months of COBRA reimbursement upon termination without cause or for good reason.
Price Impact
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