Summary by Moomoo AI
Microvast Holdings announced the appointment of Fariyal Khanbabi as Chief Financial Officer, effective October 21, 2024. Khanbabi, 57, brings extensive executive experience, having previously served as Group CEO of Dialight PLC from 2019 and as its CFO from 2014 to 2019. She also held CFO positions at Harvest Energy and Britannia Bulk Inc.Under the employment agreement, Khanbabi will receive an annual base salary of $400,000 and a target annual bonus of 25% of her base salary. She will be eligible for the company's long-term incentive program and standard employee benefits. The agreement includes severance provisions, including six months of base salary continuation if terminated without cause or upon resignation for good reason.The appointment involves no special arrangements or family relationships with any company directors or executives. Severance benefits are contingent upon executing a general release of claims and compliance with applicable restrictive covenants.
