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Posted 29 March, 2024

Archer Aviation Inc. appointed new CEO

CEO Change detected for ticker NYSE:ACHR in a 8-K filed on 29 March, 2024.


  Effective March 25, 2024, Thomas Muniz, formerly Archer Aviation Inc.'s (the "Company") Chief Operating Officer, transitioned to serving as the Company's Chief Technology Officer. Mr. Muniz will continue to report directly to the Chief Executive Officer ("CEO") of the Company.  

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Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


Appointment of Chief Technology Officer and Chief Legal Officer Transition


Effective March 25, 2024, Thomas Muniz, formerly Archer Aviation Inc.'s (the "Company") Chief Operating Officer, transitioned to serving as the Company's Chief Technology Officer. Mr. Muniz will continue to report directly to the Chief Executive Officer ("CEO") of the Company.


Effective March 28, 2024, Andy Missan transitioned from his role as Chief Legal Officer of the Company to serving as a Senior Advisor to the CEO for an initial term of one year. Eric Lentell, the Company's current Deputy General Counsel, will assume the role of General Counsel and lead the legal function going forward. As a result of this transition, Mr. Missan will no longer serve as an executive officer of the Company.


In connection with Mr. Missan's transition, in early February the Company entered into a transition agreement (the "Transition Agreement") and an advisory services agreement (the "Advisory Services Agreement") with him. Pursuant to the Transition Agreement, Mr. Missan agreed to a customary general release and waiver of claims and Mr. Missan will receive certain compensation and benefits according to the terms of his Change in Control and Severance Agreement, dated February 26, 2022. Under the Advisory Services Agreement, Mr. Missan is entitled to receive certain monthly cash compensation and continued vesting for so long as he continues to act as an advisor to the Company. 


The foregoing description of the Transition Agreement and the Advisory Services Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of each of the Transition Agreement and the Advisory Services Agreement, copies of which will be filed as exhibits to the Company's Quarterly Report on Form 10-Q for the three months ending March 31, 2024.