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Posted 24 August, 2022

Cuentas Inc. appointed Arik Maimon as new CEO

Nasdaq:CUEN appointed new Chief Executive Officer Arik Maimon in a 8-K filed on 24 August, 2022.


  On August 19, 2022, the Company's Board of Directors approved a motion to appoint Arik Maimon as Interim CEO (in addition to his current position as Chairman of the Board) and Michael De Prado as Interim President (in addition to his current position as Vice Chairman of the Board).  

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Overview of Cuentas Inc.
Telecommunication Services • Wireless Telecommunications Services
Cuentas, Inc. is a financial technology company, which focuses on the business of using proprietary technology to provide e-banking and e-commerce services delivering mobile banking, online banking, prepaid debit and digital content services to the unbanked, underbanked and underserved communities. It operates through the Telecommunications and General Purpose Reloadable Cards segments. The company was founded by Arik Maimon and Michael A. de Prado in September 2005 and is headquartered in Miami, FL.
Market Cap
$878K
View Company Details
Cuentas Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointments of Arik Maimon as Interim CEO and Michael De Prado as Interim President

On August 19, 2022, the Company's Board of Directors approved a motion to appoint Arik Maimon as Interim CEO (in addition to his current position as Chairman of the Board) and Michael De Prado as Interim President (in addition to his current position as Vice Chairman of the Board). Both Maimon and De Prado agreed to assume these positions with no additional compensation. The Board also authorized the formation of a CEO Search committee.

Departure of Jeffery D. Johnson as Chief Executive Office

On August 18, 2022, Jeffery D. Johnson signed a Separation of Employment Agreement between himself and the Company, and resigned as the chief executive officer of the Company effective immediately. On August 19, 2022, the Board of Directors approved the Separation and General Release Agreement, approved the immediate acceleration of the vesting of 160,000 options previously issued under the Stock Option Plan that will be exercisable for a period of three years after the resignation and noted that the separation was cordial and positive.

Mr. Johnson will receive a one time Separation Payment of $100,000.00, and the Company will pay all costs for COBRA (health insurance) benefits through the end of calendar year 2022.

On August 23, 2022, the Company issued a press release announcing the appointment of Mr. Maimon as Interim CEO, Mr De Prado as Interim President and the departure of Mr. Johnson. A copy the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.