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Posted 08 May, 2023

Soluna Holdings, Inc appointed John Belizaire as new CEO

Nasdaq:SLNH appointed new Chief Executive Officer John Belizaire in a 8-K filed on 08 May, 2023.


  As described below under Item 5.02(c), Effective as of May 1, 2023, Michael Toporek resigned as Chief Executive Officer of Soluna Holdings, Inc. (the "Company") in connection with the appointment of John Belizaire as Chief Executive Officer as part of the Company's previously announced succession plan.  

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Overview of Soluna Holdings, Inc
Industrial Goods • Precision Products
Soluna Holdings, Inc. engages in the design, manufacture, and sale of test and measurement instruments and systems that use an array of technologies to solve complex, real-world applications in numerous industries including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive, and data storage. It also develops cryptocurrency mining facilities powered by renewable energy that integrate with the blockchain network. The firm operates through the following segments: Cryptocurrency Mining and Data Center Hosting. The Cryptocurrency Mining segment generates revenue from its mining activities. The Data Center Hosting segment operates a data center from the company's computing facility in Calvert City, Kentucky. The company was founded in 1961 and is headquartered in Albany, NY.
Market Cap
$10.7M
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Soluna Holdings, 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.


(b) Resignation of Officer


As described below under Item 5.02(c), Effective as of May 1, 2023, Michael Toporek resigned as Chief Executive Officer of Soluna Holdings, Inc. (the "Company") in connection with the appointment of John Belizaire as Chief Executive Officer as part of the Company's previously announced succession plan. In connection with such plan, as also described below, Mr. Toporek was elected as Executive Chairman of the Board of Directors.


The resignation of Mr. Toporek was not the result of was not a result of any disagreements with the Company on any matter relating to the Company's operations, policies or practices.


(c) Appointment of Officer


The Company has appointed John Belizaire, the Chief Executive Officer of the Company's Soluna Computing, Inc. subsidiary ("SCI') and a current director of the Company, to serve as the Chief Executive Officer of the Company, effective as of May 1, 2023. Mr. Belizaire served as the Chief Executive Officer of Soluna Callisto from June 2018 until the Company's acquisition of Soluna Callisto in October 2021. He also serves as an Operating Advisor of Pilot Growth Equity, a technology growth equity firm, since October 2020. In addition, Mr. Belizaire serves on the Board of Directors of Center for American Entrepreneurship, since May 2020, and the Board of Directors at BanQu Inc, since June 2018. Mr. Belizaire served as the Managing Partner of NextStage LLC, a venture capital firm, from 2002 to 2016. Since June 2006, Mr. Belizaire was the Co-Founder and Chief Executive Officer of FirstBest Systems, which was acquired by Guidewire Software in September 2016, where he served as a Senior Industry Advisor until May 2017. Since January 1997, Mr. Belizaire was the Co-Founder, President and Chief Executive Officer of TheoryCenter, Inc., which was acquired by BEA Systems, Inc. in November 1999, where he served as a Senior Director, Business Development and Strategic Planning until April 2002. Mr. Belizaire has a B.S. in Computer Science and a Master of Engineering in Computer Science from Cornell University. Mr. Belizaire also attended the Executive Development Program at The Wharton School from 2001 to 2002.


Michael Toporek, the Company's prior Chief Executive Officer, has been elected to serve as Executive Chairman of the Board of Directors, effective as of May 1, 2023.