Golden Matrix Group, Inc. (NASDAQ:GMGI), a Nevada-based software services company, announced the departure of its Chief Financial Officer (CFO), Omar Jimenez, effective Monday.
The company and Mr. Jimenez have mutually agreed to terminate his role as CFO and Chief Compliance Officer, according to a recent filing with the Securities and Exchange Commission.
As part of the separation agreement, Golden Matrix will pay Mr. Jimenez a severance package totaling $50,000, alongside reimbursement for $1,025 of prior business expenses. The severance is to be paid within 10 days of the agreement. Mr. Jimenez has also agreed to customary covenants including confidentiality and non-disparagement.
Simultaneously, the company's Board of Directors has appointed Weiting ‘Cathy’ Feng, currently the Chief Operating Officer (COO) and a director of the company, to the CFO position. This appointment also took effect on Monday.
Ms. Feng's background and role within the company were detailed in the Proxy Statement filed on August 30, 2024. There are no disclosed relationships or arrangements between Ms. Feng and any other persons influencing her appointment, other than her existing Employment Agreement with the company.
Golden Matrix's announcement comes with no indication of any related party transactions involving Ms. Feng that would require disclosure under SEC regulations. The company has provided a general release to Mr. Jimenez, subject to certain exceptions, and he has reciprocated with a general release to the company.
This executive transition occurs as Golden Matrix continues to operate in the prepackaged software industry, under the leadership of CEO Anthony Brian Goodman. The information regarding these corporate changes is based on the company's latest SEC filing.
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