Phoenix Motor Forms Special Committee to Probe CEO Xiaofeng Denton Peng's Alleged Misconduct, Former CFO J. Mark Hastings Tapped as Interim Chief
Phoenix Motor Forms Special Committee to Probe CEO Xiaofeng Denton Peng's Alleged Misconduct, Former CFO J. Mark Hastings Tapped as Interim Chief
On May 17, 2024, the Board of Directors (the "Board") of Phoenix Motor Inc. (the "Company") established a special committee to investigate various allegations against Mr. Xiaofeng Denton Peng, the current Chief Executive Officer of the Company ("CEO"), including but not limited to a breach of his fiduciary duty as the CEO of the Company, Chairman and Director of the Board, and as a majority shareholder of the Company by causing the Company to enter into related party transactions, including that certain guarantee, dated March 6, 2024, in favor of Streeterville Capital, LLC. Pursuant to the guaranty, the Company is obligated to guarantee repayment of a debt of $14.98 million incurred by SPI Energy Co., Ltd. (NASDAQ:SPI) where Mr. Peng is currently serving as CEO. The Board believes that this is an unauthorized related party transaction that harms the Company and its minority shareholders. In light of the foregoing, the Board has suspended Mr. Peng from his position and responsibilities as the CEO of the Company with immediate effect, pending the outcome of the investigation. The Company's former Chief Financial Officer, J. Mark Hastings, has been appointed by the Board to assume the role of interim CEO until the conclusion of the investigation. A further statement will be made when the investigation is complete.
2024 年 5 月 17 日，菲尼克斯汽車公司（“公司”）董事會（“董事會”）成立了一個特別委員會，負責調查針對公司現任首席執行官（“CEO”）彭曉峯先生的各種指控，包括但不限於違反其作爲公司首席執行官、董事會主席和董事以及作爲公司大股東的信託義務的行爲公司促使公司於2024年3月6日進行有利於斯特里特維爾的關聯方交易，包括某些擔保資本有限責任公司。根據擔保，公司有義務爲償還彭先生目前擔任首席執行官的SPI能源有限公司（納斯達克股票代碼：SPI）產生的1,498萬美元債務提供擔保。董事會認爲，這是一項未經授權的關聯方交易，損害了公司及其少數股東。鑑於上述情況，在調查結果出來之前，董事會已立即暫停彭先生作爲公司首席執行官的職位和職責。該公司前首席財務官J. Mark Hastings已被董事會任命擔任臨時首席執行官一職，直到調查結束。調查完成後，將發表進一步的聲明。