Posted 12 January, 2024

HWH International Inc. appointed John "JT" Thatch as new CEO

Nasdaq:ACAX appointed new Chief Executive Officer John "JT" Thatch in a 8-K filed on 12 January, 2024.

  Additionally, on January 9, 2024, John "JT" Thatch has been appointed to the Chief Executive Officer of the Company.  

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Overview of HWH International Inc.
Retail/Wholesale • Mixed Retailing
HWH International, Inc. operates as a lifestyle business through a membership model. It enables home-based people in the new GIG economy to create lasting wealth. Its segments include HWH Marketplace, Hapi Café, Hapi Travel Destinations, and Hapi Wealth Builder. HWH Marketplace offers discounted sale of certain products, manufactured by affiliate company, Sharing Services Global Corp., to members. Hapi Café offers location-based social experiences where members can build a sense of community with like-minded customers with a potential interest in the same products. Hapi Travel Destinations aims to offer exclusive access to unpublished rates and discounts on air travel, cruises, car rentals, hotels, and resorts for members. Hapi Wealth Builder is exploring options of providing services to members through educational materials and seminars aimed at various types of investing opportunities. The company is headquartered in Bethesda, MD.
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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. 

On January 9, 2024, Heng Fai Ambrose Chan resigned from the position of Chief Executive Officer of the Company. Additionally, on January 9, 2024, John "JT" Thatch has been appointed to the Chief Executive Officer of the Company.

John "JT" Thatch has served HWH's Chief Executive Officer and director since July 7, 2023, and as a director of DSS, Inc., since May 9, 2019, and as Lead Independent Director at DSS, Inc. since December 9, 2019 through June 2022. Mr. Thatch is an accomplished, energetic, entrepreneur-minded executive who has the vision and knowledge to create growth and shareholder value any organization. Mr. Thatch has successfully started, owned and operated several sized businesses in various industries, including service, retail, wholesale, on-line learning, finance, real estate management and technology companies. Since March 2018, Mr. Thatch has served as the President, Chief Executive Officer and Vice Chairman of Sharing Services Global Corporation, a publicly traded holding company focused in the direct selling and marketing industry. He is a minority member of Superior Wine & Spirits, a Florida-based wholesale company since February of 2016. Mr. Thatch served as Chief Executive Officer of Universal Education Strategies, Inc. from January 2009 to January 2016, an organization the development and sales of educational products and services. From 2000 - 2005, he was the Chief Executive Officer of Onscreen Technologies, Inc., currently listed on NASDAQ as Orbital Energy Group "OEG", a global leader in the development of cutting-edge thermal management technologies for integrated LED technologies, circuits, superconductors and solar energy solutions. Mr. Thatch was responsible for all aspects of the company including board and stockholder communications, public reporting and compliance with Sarbanes-Oxley, structuring and managing the firm's financial operations, and expansion initiatives for all corporate products and services. Mr. Thatch's public company financial and management experience in the strategic growth and development of various companies qualify him to Board serve on the Company's Board of Directors and audit committees.

Effective upon the consummation of the Business Combination, the following sets forth certain information, concerning the person who now serve as directors, executive officers and key employees of the Company:

Name Age Position 

 Heng Fai Ambrose Chan 79 Executive Chairman, Director 

 John "JT" Thatch 61 Chief Executive Officer 

 Rongguo Wei 52 Chief Financial Officer 

 Anthony Chan 59 Chief Operating Officer 

 Danny Lim 31 Chief Strategy Officer 

 Vincent Lum 60 Chief Technology Officer 

 Liaw Wei Sheng 32 Chief Compliance Officer 

 Adam Tan 30 Asia Chief Operating Officer 

 Wong (Frankie) Shui Yeung 53 Independent Director 

 William Wu 57 Independent Director 

 Wong (Aston) Tat Keung 53 Independent Director 

Other than as disclosed in this Item 5.02 of this Current Report, reference is made to the disclosure described in the Proxy Statement/Prospectus in the section entitled "Management of Company Following the Business Combination" for biographical information about each of the directors and officers following the Business Combination and to Item 1.01 of this Current Report, which are hereby incorporated herein by reference; however, the Company has, at the present time, maintained a Board of Directors consisting of four persons: Heng Fai Ambrose Chan, Wong (Frankie) Shui Yeung, William Wu and Wong (Aston) Tat Keung.

Compensatory Arrangements for Directors

Reference is made to the disclosure in the Proxy Statement/Prospectus in the section entitled "Management of Alset After the Business Combination - Director Compensation," which is hereby incorporated herein by reference.

Indemnity Agreements

Each of the Company's newly appointed directors and officers entered into indemnity agreements with the Company. Reference is made to the disclosure in the Proxy Statement/Prospectus in the section entitled "Management of Alset After the Business Combination-Limitation on Liability and Indemnification of Directors and Officers" which is hereby incorporated herein by reference, and the full text of the form of the Indemnity Agreement which is included as Exhibit 10.10 to this Current Report and is incorporated herein by reference.