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Posted 21 December, 2023

Tingo Group, Inc. appointed Mr. Denos as new CEO

Nasdaq:TIO appointed new Chief Executive Officer Mr. Denos in a 8-K filed on 21 December, 2023.


  There are no arrangements between Mr. Denos and any other person pursuant to which Mr. Denos was appointed as a group CEO of the Company.  

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Overview of Tingo Group, Inc.
Technology • Computers/Consumer Electronics
Tingo Group, Inc. operates through its subsidiaries, focused on the growth and development of its financial technology offerings. The firm uses its proprietary trading technology platforms to serve a range of growth sectors in the fintech space, including online brokerage for equities trading, online investment and wealth management services, sales of insurance products, and trading in certain commodities. It is also involved in the growing telematics and commercial mobile resource management market, with a focus on designing, developing, manufacturing, and selling mobile computing solutions that provide fleet operators and field workforces with computing solutions. The company was founded on January 31, 2002 and is headquartered in Montvale, NJ.
Market Cap
$5.08M
View Company Details
Tingo Group, 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 December 20, 2023, Dozy Mmobuosi, who accepted the position of Group Interim Co-CEO on September 15, 2023, has temporarily stepped down as Interim Co-Chief Executive Officer and Member of the Board of Directors in connection with an order sought by the Securities & Exchange Commission (the "SEC") to prohibit him from acting as an officer or director of a public company. In addition, by mutual agreement with the Company's Board of Directors, Mr. Mmobuosi will remain stood down until cleared of the allegations made against him.


The Company's other interim co-CEO, Mr. Ken Denos, will serve as its interim group CEO until further notice. In addition, the management of each group company will remain in their respective roles, with the aim of delivering business stability and continuity pending the outcome of this matter.


Mr. Denos has no family relationships with any director or executive officer of the Company. There are no arrangements between Mr. Denos and any other person pursuant to which Mr. Denos was appointed as a group CEO of the Company. There are no transactions to which the Company is or was a participant and in which Mr. Denos has a material interest subject to disclosure under Item 404(a) of Regulation S-K.


Resignation of John J. Brown


On December 21, 2023, John J. Brown tendered his resignation as a member of the board of directors (the "Board") of Tingo Group, Inc. (the "Company"), effective immediately. Mr. Brown resigned due to his concerns relating to potential conflicts of interest in light of the SEC complaint and his pre-existing chairmanship of Agri-Fintech Holdings, Inc., the Company's largest shareholder, and not in connection with any disagreements with the Company.