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Posted 31 March, 2023

DOMO, INC. appointed new CEO

CEO Change detected for ticker Nasdaq:DOMO in a 8-K filed on 31 March, 2023.


  On March 28, 2023, Domo, Inc. (the "Company") entered into a separation letter agreement with John Mellor (the "Separation Agreement"), related to the terms of Mr. Mellor's previously announced resignation from the position of the Company's Chief Executive Officer and resignation from the Company's board of directors.  

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Overview of DOMO, INC.
Technology • Software
Domo, Inc. designs, develops, and markets executive management software solutions. It offers customized software tools for business operations, customer relationship management, human resources, and financial reporting. The company was founded by Joshua G. James in September 2010 and is headquartered in American Fork, UT.
Market Cap
$416M
View Company Details
DOMO, 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.


On March 28, 2023, Domo, Inc. (the "Company") entered into a separation letter agreement with John Mellor (the "Separation Agreement"), related to the terms of Mr. Mellor's previously announced resignation from the position of the Company's Chief Executive Officer and resignation from the Company's board of directors. Among other things, the Separation Agreement provides that:


-Mr. Mellor will perform advisory transition services to the Company during a transition period beginning immediately after March 3, 2023, the date Mr. Mellor resigned from the Company, and continuing through September 30, 2024 (the "Advisory Period"). Mr. Mellor's outstanding equity awards will continue to vest in accordance with their terms and conditions through the Advisory Period, but will cease vesting upon expiration of the Advisory Period (and in any case no later than September 30, 2024).

-Upon Mr. Mellor's separation from the Company, Mr. Mellor will make certain waivers and releases of claims in favor of the Company, subject to specified exceptions therein, in consideration for: (i) cash severance equal to Mr. Mellor's base salary and annual target bonus, for an aggregate total of $875,000, payable in 12 equal, monthly installments following March 3, 2023 and (ii) the Company's payment of premiums under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"), as amended, subject to specified exceptions therein, for Mr. Mellor and his eligible dependents, if any, until the earliest of (i) a period of 12 months from March 3, 2023, (ii) the date upon which Mr. Mellor (and his eligible dependents, if any) become covered under similar plans, or (iii) until Mr. Mellor ceases to be eligible for COBRA coverage.


The foregoing summary of the Separation Agreement does not purport to be complete and is subject to, and is qualified in its entirety by, the full text of the Separation Agreement, which is attached as Exhibit 10.1 and incorporated herein by reference.