Bright Green Corp appointed Gurvinder Singh as new CEO

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


Effective as of October 2, 2023, Seamus McAuley, the Chief Executive Officer of Bright Green Corporation, a Delaware corporation (the "Company"), resigned from his position as Chief Executive Officer of the Company in connection with the appointment of Gurvinder Singh as Chief Executive Officer, as described below. Mr. McAuley indicated to the Company that he did not resign as a result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices.


Gurvinder Singh was appointed Chief Executive Officer of the Company, effective as of October 2, 2023. On September 20, 2023, effective as of October 2, 2023, the Company entered into an Executive Employment Agreement with Mr. Singh (the "Agreement") to serve as the Company's Chief Executive Officer. The Agreement provides Mr. Singh a monthly base salary of $33,333.33, customary reimbursement for certain expenses, and eligibility to participate in the Company's benefit plans and executive compensation programs generally. The Agreement provides for the award of up to an aggregate of 625,000 restricted stock units and 625,000 options to acquire shares of the Company's common stock (the "Signing Awards"), pursuant to the Company's 2022 Omnibus Equity Incentive Plan (the "Plan"). The Signing Awards vest in accord with the terms provided in the Agreement. In addition, upon the achievement of specific milestones as set forth in the Agreement, Mr. Singh shall be eligible to receive additional awards of up to an aggregate of 625,000 restricted stock units and 625,000 options to acquire shares of common stock (the "Milestone Awards"). Each Milestone Award is subject to and conditioned upon the approval of the Board of Directors, which approval shall be granted as each milestone is met. The Agreement subjects Mr. Singh to standard restrictive covenants for agreements of its type, including non-competition, non-solicitation, and invention assignment provisions.


Mr. Singh has been the CEO of Peak Visory Consulting, a strategic firm specializing in guiding U.S. and Asia-based companies to entry in U.S. markets, since he founded the Company in January 2022. From January 2022 until September 2023, Mr. Singh served as the Chief Strategy Officer for Pangea Global Technology Inc., a vertically integrated company operating in the Ag Tech and smart lighting wireless technology space. Mr. Singh co-founded Glass House Brands Inc. in January 2018 and served as the Chief Marketing Officer from such time until October 2021. During his time at Glass House Brands Inc., Mr. Singh was responsible for the formation and growth of the company's commercial cannabis operations, including the development of six million square feet of cultivation and the brand's consumer retail business. Previously, Mr. Singh co-founded SC Investments LLC, a real estate investment firm, in January 2013 and served as CEO from such time until 2017. Prior to that, Mr. Singh co-founded TCW Trends, Inc., an active-branded apparel company, where he was pivotal in forging alliances with global retail partners. Mr. Singh holds board advisory positions for several international companies spanning across the Ag-tech, Real Estate and Consumer packaged goods sectors. Mr. Singh earned a B.A from Stanford University and an OPM certification from the Harvard Business School.


The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by its full text, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.