Vinco Ventures (BBIG) shares tumbled more than 22% during after hours, after the company announced that its CEO Christopher Ferguson and CFO Brett Vroman are resigning effective October 25th and November 4th respectively.
Lisa King has been appointed as the Company’s Chief Executive Officer and President, effective October 25, 2021. Ms. King has more than 25 years of professional experience as a senior marketing and branding leader, C-suite executive, and consultant. The Company and Ms. King are entering into an employment agreement to be effective as of October 25, 2021 (the “King Employment Agreement”).
Stephen Garrow has been appointed as the Company’s Chief Operating Officer, effective October 25, 2021. Mr. Garrow has been a Chief Executive Officer and Senior Professional Business Developer for over 25 years, with experience growing and building companies in a variety of different industries. The Company and Mr. Garrow are entering into an employment agreement to be effective as of October 25, 2021 (the “Garrow Employment Agreement”).
Philip Jones has been appointed as the Company’s Chief Financial Officer, effective November 4, 2021. The Company and Mr. Jones are entering into an employment agreement to be effective as of November 4, 2021 (the “Jones Employment Agreement”).
Dividend date changed
The Company has elected to change the form of registration for the TYDE spin-off dividend such that it will be filing a Registration Statement on Form 10 (the “Form 10”). Upon successful completion of the standalone audit, the Company anticipates filing the Form 10 the week of October 25, 2021 with a Record Date of approximately 60 days post filing (on or about December 27, 2021).
The dividend date has been pushed to on or about December 27th 2021.
