Monterey Bio Acquisition Corp appointed new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors.


On March 9, 2023, Sanjeev Satyal tendered his resignation as Chief Executive Officer and William McKeever tendered his resignation as Chief Financial Officer and director. There was no known disagreement with either individual on any matter relating to the Company's operations, policies or practices.


Also on March 9, 2023, Chris Coleman, Jory Des Jardins and Roderick Hardamon, were appointed as directors. Mr. Hardamon and Mr. Coleman were appointed to the audit committee of the Company, and Mr. Hardamon was also designated as the "audit committee financial expert." Jonas Grossman was appointed to Executive Chairman. Murat Omur was appointed Chief Executive Officer and Sean McGann was appointed Chief Financial Officer.


The following sets forth certain information concerning each new director and officer's past employment history and directorships held in public companies, if applicable.


Chris Coleman, 52, serves as the President of Liberty United DAO LLC, a blockchain company and has, since April 2020, served as a Principal and Founder for Dominus Group, LLC, an acquisition and due diligence consulting firm. Previously, Mr. Coleman served as the Chief Executive Officer of CMNS Systems LLC, a management consulting firm, from November 2020 until April 2022. Before that, he served as the Chief Executive Officer for LookingGlass Cyber Solutions, Inc., a commercial cyber security company, between 2013 and 2020.


Jory Des Jardins. 50, has nearly 20 years of experience in corporate management, focusing in the tech and digital marketing space. Ms. Des Jardins serves as Fractional Executive and Advisor for Candor Partners, a startup advisory company, since February 2016, and served as a member of the board of directors of Dragonfly Energy Holdings Corp (formerly, Chardan NexTech Acquisition 2 Corp.) from August 2021 until October 2022. Previously, she served as Chief Marketing Officer for Countable, a digital community SaaS company, as well as Fractional Chief Marketing Officer for AboveBoard, an executive recruiting platform and Chief Marketing Officer for The @ Company, a privacy protocol company. From July 2019 to May 2020, Ms. Des Jardins served as Head of Global Startup Marketing for AWS, a cloud services company, and from June 2018 to July 2019, she served as Global Head of Community for ConsenSys, a Web3 Incubator. From June 2017 to June 2018, she was a Consumer Digital Partner for Tribal Ventures, and she served as SVP of Global Strategic Alliances for SheKnows Media between 2014 and 2016. She also served as the President of BlogHer, a media marketing platform she founded in March 2005 until November 2014. Ms. Des Jardins holds a Bachelor of Arts degree in English Literature from the University of Illinois, Urbana-Champaign.


Roderick Hardamon, 46, has served as the Chief Executive Officer and Chief Strategist of URGE Imprint LLC, an integrated boutique management consulting firm since 2016, and as Chief Executive Officer of URGE Development Group LLC, a real estate development company since 2017. From August 2021 until October 2022, Mr. Hardamon served on the board of directors and on the audit committee for Dragonfly Energy Holdings Corp. (formerly, Chardan NexTech Acquisition 2 Corp.). Previously, he served as the North America Head & Global Head of Strategy for Citi Alternative Investment Services, and as Global Co-Head of Mergers and Acquisition (M&A) for Citi Markets & Banking. Mr. Hardamon has also served on the board of directors for the Boys and Girls Club of Southeastern Michigan and the Metro Detroit Black Business Alliance since 2020 and 2022, respectively. Mr. Hardamon earned a Bachelor of Arts degree in Philosophy and a Bachelor of Science degree in Accounting from Morehouse College.


Murat Omur, 45, has 15 years of investment banking experience in the healthcare mergers and acquisitions space Mr. Omur serves as Managing Director of Healthcare Investment Banking and Principal Investments at Chardan Capital Markets, since June 2019. Prior to joining Chardan, Mr. Omur was an Executive Director in Healthcare Investment Banking at Nomura Securities from October 2015 to April 2019. Prior to Nomura, he was a Director at Perella Weinberg Partners, focusing on mergers and acquisitions, including healthcare. Before joining Perella Weinberg, Mr. Omur worked in the mergers and acquisitions group of Merrill Lynch. Mr. Omur holds a Bachelor of Arts degree in International Relations and Sociology from Boğaziçi University, a Master of Arts in International Relations from Johns Hopkins University, and a Masters of Business Administration in Finance from Columbia Business School.


Sean McGann, 37, has over 15 years of investment banking and strategy experience. Mr. McGann is a Managing Director in the Principal Investments Group for Chardan Capital Markets, a position he has held since November 2020. Previously, Mr. McGann was at Citigroup from June 2013 to November 2020 where he was the Director of Product Strategy for the Corporate and Investment Bank and served as an Investment Banker covering clients in the Financial Technology and Asset Management sectors. He has also acted as an advisor to several special purpose acquisition companies, including Chardan NexTech Acquisition 2 Corp., CleanTech Acquisition Corp. and Ventoux CCM Corp. Mr. McGann holds a Masters of Business Administration in Finance from Georgetown University and a Bachelor of Science in Accounting from Boston College.


The Company has determined that none of the newly appointed directors or officers has or had a direct or indirect material interest in any transaction in which the Company was or is a participant, that would be required to be disclosed under Item 404(a) of Regulation S-K. None of the newly appointed directors or officers will receive any compensation in connection with their appointment.


The Company has entered into a standard director indemnity agreement with each of the Insiders, a form of which was filed as Exhibit 10.9 to the Company's Current Report on Form 8-K filed with the SEC on October 6, 2021.