Alliance Entertainment Holding Corporation announced that on October 24, 2023, John Kutch?s employment as the Chief Financial Officer of the Company was terminated as part of a workforce reduction, and Mr. Kutch resigned from his position as a member of the Board of Directors of the Company. Mr. Kutch?s termination and resignation were not based on any disagreement with the Company?s policies or practices. The Board reduced the size of the Board of Directors to six members as a result of Mr. Kutch?s resignation.

On October 24, 2023, the Board appointed Jeffrey Walker, the Company?s Chief Executive Officer, to replace Mr. Kutch as Chief Financial Officer and the Company?s Principal Financial and Accounting Officer. Mr. Walker, age 56, has been the Company?s Chief Executive Officer since February 2023 and was the Chief Executive Officer of AENT Corporation (f/k/a Alliance Entertainment Holding Corporation) prior to the Company?s initial business combination (?Legacy Alliance?) since 2013. Mr. Walker has also been a director of the Company since February 2023 and a director of Legacy Alliance since 2013.

In 1990, Mr. Walker co-founded the CD Listening Bar Inc., a retail music store. A few years later, Mr. Walker started wholesaling CDs from the back of the store, beginning the journey to create Super D, a music wholesaler founded in 1995. In 2001, Mr. Walker and co-founder David Hurwitz sold a third of Super D to Bruce Ogilvie.

Over the next two decades, Mr. Ogilvie and Mr. Walker continued to grow Super D?s presence in the music wholesaling space, with the acquisition of Legacy Alliance in 2013. Mr. Walker also served as Chief Financial Officer of CD Listening Bar Inc. and Super D until the acquisition of Legacy Alliance. Mr. Walker has been responsible for overseeing Alliance?s acquisition strategy and financings.

In 2015, Jeff was awarded E&Y?s Distribution Entrepreneur of the Year award in Orange County. Mr. Walker received a bachelor?s degree in economics from the University of California?Irvine.