Management ChangeMay 8, 2026, 04:38 PM
Ten Holdings CEO Randolph Jones Departs; CFO Virgilio Torres Appointed CEO
AI Summary
Ten Holdings, Inc. announced that Randolph Jones mutually agreed to step down as Chief Executive Officer and Chairman of the Board, effective May 8, 2026. His departure was not due to any disputes. In connection with his separation, Mr. Jones will receive six months of his base salary and can exercise vested stock options for one year. Concurrently, the Board appointed Virgilio Torres, the company's Chief Financial Officer, as the new CEO and Chairman. Mr. Torres will also continue in his CFO role during the search for a new Chief Financial Officer.
Key Highlights
- Randolph Jones mutually agreed to step down as CEO and Chairman of Ten Holdings, effective May 8, 2026.
- Mr. Jones's separation is not due to any dispute or disagreement with the company.
- Mr. Jones will receive six months of continued base salary payment at $300,000 per year.
- Mr. Jones can exercise vested stock options for one year from the effective date.
- Virgilio Torres, the current CFO, was appointed CEO and Chairman of the Board, effective May 8, 2026.
- Mr. Torres will continue to serve as CFO during the search for a new Chief Financial Officer.
- Any material changes to Mr. Torres's compensation as CEO have not yet been determined.