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Posted 18 December, 2023

ECD Automotive Design, Inc. appointed Scott Wallace as new CEO

Nasdaq:ECDA appointed new Chief Executive Officer Scott Wallace in a 8-K filed on 18 December, 2023.


  Further, in connection with the Business Combination and effective December 12, 2023, each executive officer of EFHT resigned from their position, and Scott Wallace was appointed as Chief Executive Officer, Raymond Cole was appointed as Chief Financial Officer.  

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Overview of ECD Automotive Design, Inc.
Automotive • Automobiles
E.C.D. Automotive Design, Inc. engages in restoration and modification of luxury vehicles. It restores various vehicles, including Land Rovers Defenders, Land Rover Series IIA, the Range Rover Classic, and the Jaguar E-Type. The company was founded by Emily Humble, Thomas Humble, Elliot J. Humble, and Scott Wallace on March 5, 2013 and is headquartered in Kissimmee, FL.
Market Cap
$29.6M
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ECD Automotive Design, 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


Directors and Executive Officers


The following directors resigned in connection with the Business Combination, Joseph Rallo, David Boral, Paul Hodge, Jr., Anne Lee, and Stanley Rumbough. The following officers resigned in connection with the Business Combination, Benjamin Piggott - CEO, Joseph Rallo - Co-President, David Boral - Co-President and Kevin Bush - CFO.


The information set forth above in the sections titled "Directors and Executive Officers," "Executive Compensation," "Certain Relationships and Related Person Transactions, and Director Independence" and "Indemnification of Directors and Officers" in Item 2.01 is incorporated herein by reference.


Further, in connection with the Business Combination and effective December 12, 2023, each executive officer of EFHT resigned from their position, and Scott Wallace was appointed as Chief Executive Officer, Raymond Cole was appointed as Chief Financial Officer. Thomas Humble was appointed Chief Experience Officer. Emily Humble was appointed Chief Product Officer and Elliot Humble was appointed Chief Technology Officer.


Effective December 12, 2023, each of EFHT's Board of Directors members resigned with the exception of Benjamin Piggott and Thomas Wood. Effective December 12, 2023, Scott Wallace, Thomas Humble. Emily Humble, Robert Machinist and Patrick Lavelle were appointed to the Company's Board of Directors.


The information set forth above in the sections titled "Directors and Executive Officers," "Director Independence," "Committees of the Board of Directors", "Director and Executive Compensation", "Certain Relationships and Related Transactions" and "Indemnification of Directors and Officers" in Item 2.01 of this Report are incorporated herein by reference.


2023 Incentive Plan


In connection with the Business Combination, the Board approved the ECD Automotive Design, Inc. 2023 Equity Incentive Plan described in the Proxy Statement/Prospectus in the section entitled "Proposal No. 6 - The 2023 Equity Incentive Plan Proposal" beginning on page 76 and incorporated herein by reference. That summary of the 2023 Plan does not purport to be complete and is qualified in its entirety by reference to the text of the 2023 Plan, which is filed as Annex G to the Proxy Statement/Prospectus and is incorporated herein by reference. The plan allows the Company to make equity and equity-based incentive awards, as well as cash awards, to employees, directors and consultants.


Decisions with respect to the compensation of the Company's executive officers will be made by the compensation committee of the Board