Allbirds (BIRD) has issued an announcement.
Joe Vernachio has been named the new President, CEO, and Secretary of the company, succeeding Joseph Zwillinger who will transition to an advisory role through the end of the year. Vernachio, with his extensive experience in outdoor apparel at Mountain Hardwear and The North Face, brings seasoned leadership to the company. His compensation includes a $500,000 base salary, potential performance-based bonuses, and significant stock options tied to company performance goals, ensuring his interests align with sustained company growth and stockholder value. Zwillinger will continue his involvement as a board member and will receive a severance package, maintaining his influence within the company during the transition period.
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