Crown PropTech Acquisitions appointed new CEO

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


On February 15, 2024, Gavin Cuneo notified Crown PropTech Acquisitions (the "Company") of his decision to resign as the co-chief executive officer of the Company, effective immediately. Mr. Cuneo also served as the Company's principal financial and accounting officer and resigned from such positions as well. Mr. Cuneo's decision to resign was not the result of any dispute or disagreement with the Company or any matter relating to the Company's operations, policies or practices. 


Michael Minnick, 57, the Company's Chief Executive Officer, will assume the role of principal financial and accounting officer of the Company effective upon Mr. Cuneo's resignation. Mr. Minnick has served as the Company's Co-Chief Executive Officer since January 2023. He is a Co-Founder and has been a Managing Partner at IIG Holdings since 2014. Mr. Minnick has also served as a Director, Co-Founder and Managing Partner of Opus Music Group Investments, LLC since December 2021. From September 2021 to April 2023, he was the Co-Chief Executive Officer of CIIG Capital Partners II, Inc. and a member of its board of directors. From 2019 until March 2021, he was Chief Investment Officer and director of CIIC. Prior to forming IIG Holdings, he was a Co-Founder and Senior Managing Director of Interlink Investment Group, from 2012 to 2014 Mr. Minnick has experience in more than $190 billion in transaction volume, including advisory and debt and equity capital executions at JPMorgan Chase & Co. (NYSE:JPM) and The Royal Bank of Scotland Group plc (NYSE:RBS), or RBS. Mr. Minnick served in various capacities at RBS, from 2004 to 2011, culminating in his service as a Managing Director and Head of Corporate Finance in the Telecom, Media & Technology Group. From 2003 to 2004, Mr. Minnick was the Founder and Chief Executive Officer of Traffic Networks, a startup that developed mobile and online real-time traffic information for the New York Metropolitan markets. From 1996 to 2002, Mr. Minnick served in different positions within Investment Banking at JPMorgan Chase & Co. including the Telecom, Media & Technology Group and the Global Syndicated Finance Group. Prior to joining JPMorgan Chase & Co., Mr. Minnick was an Associate at The Bank of Nova Scotia in the Corporate Finance and Syndications division from 1994 to 1996. Mr. Minnick began his career at AT&T (NYSE:T) where he served in several analyst capacities from 1989 to 1992, including as a Financial Analyst in the Market Analysis & Forecasting Division for Business Communications Services within the Chief Financial Officer division. From 2012 to 2019, he served as a Director of Paystar Inc., a privately-held FinTech company. Mr. Minnick received a M.B.A. from Cornell University and a B.A. from The University of St. Thomas.


Other than as previously described in the Company's filings, Mr. Minnick is not a party to any transactions required to be disclosed under Item 404(a) of Regulation S-K involving the Company.