Reborn Coffee, Inc. resolved to increase the size of the Board from six members to seven members. The Board appointed Alex Yeon to fill the vacancy on the Board created by such increase in Board size. Mr. Yeon will serve on the Board until the Company's next annual stockholder meeting or until his successor has been duly appointed and qualified or until his earlier death, resignation, retirement, disqualification, removal from office or other cause.
The Board has determined that Mr. Yeon is independent within the meaning of the Nasdaq independence standards under Rule 5605(a)(2) of Nasdaq Listing Rules. Mr. Yeon will also serve on the Audit Committee of the Board. On March 3, 2026, in connection with Mr. Lim's appointment as Co-Chief Executive Officer, the Board accepted Mr. Lim's formal resignation from the Audit Committee.
Such resignation followed a determination by the Board that Mr. Lim's service as Co-Chief Executive Officer no longer made him independent for purposes of SEC and Nasdaq rules. Jung Jae Lim, age 59, brings more than 20 years of leadership experience in logistics and supply chain management to the Company, with a background overseeing large-scale operations, multi-node distribution networks, and end-to-end supply chain execution across multiple sectors. From 2001 to present, Mr. Lim has served as CEO of KCC Mexico Overseas Logistics, leading the company's international logistics operations and developing extensive expertise in cross-border transportation and global supply chain systems. In addition, from 2004 to present, Mr. Lim has served as CEO of TJ America and TJ Korea Inc., further strengthening his experience in multinational logistics management and operational leadership.
Jung Jae Lim received his Bachelor of Language and Literature from Dankook University.
