Management ChangeJul 9, 2026, 09:31 AM
Nixxy Appoints David Kratochvil as CEO; Mike Schmidt Resigns
AI Summary
Nixxy, Inc. announced a significant leadership change with Mike Schmidt's resignation as CEO and Board member, effective July 2, 2026. David Kratochvil, an existing Board member with over thirty years of Wall Street experience, was appointed as the new Chief Executive Officer on the same date. Additionally, the company regained compliance with Nasdaq's minimum bid price requirement, having maintained a closing bid price of $1.00 or greater for at least 10 consecutive business days.
Key Highlights
- Mike Schmidt resigned as Chief Executive Officer and director, effective July 2, 2026.
- David Kratochvil, 60, an existing Board member, was appointed as the new Chief Executive Officer.
- Mr. Kratochvil has served on the Board since January 2025 and brings over 30 years of Wall Street experience.
- His employment agreement includes an annual base salary of $180,000.
- He is eligible for an equity award of 100,000 stock units, vesting over 12 months.
- Nixxy regained compliance with Nasdaq's minimum bid price requirement on July 2, 2026.
Price Impact
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