AVAX One Technology, the Nasdaq-listed company that has positioned itself as the first public entity built around an Avalanche treasury, just swapped out its top executive. CEO Jolie Kahn resigned effective July 3, with COO Pete Wylie Jr. stepping into the interim CEO role while the board hunts for a permanent replacement.
What happened and what Kahn walked away with
Kahn’s exit didn’t come empty-handed. Her separation agreement includes a $160,000 cash payout, medical insurance reimbursements, and unregistered common shares valued at $250,000. Those shares come with strings attached, contingent on certain covenants.
Wylie, who will juggle both the CEO and COO titles for the foreseeable future, is being compensated at $40,000 per month during the interim period. The company has tapped executive search firm ZRG Partners to find a permanent chief executive.
The treasury that makes AVAX One matter
