Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On December 20, 2021, the Company announced that Ramesh Murthy, the Company's
current SVP, Finance and Chief Accounting Officer, has been promoted to the
added role of Interim Chief Financial Officer, serving as the Company's
principal financial officer and principal accounting officer. Mr. Murthy
succeeds Renato Giger, who will be stepping down from his current role as
Interim Chief Financial Officer for the Company. Mr. Giger's departure is not
related to any disagreement regarding financial disclosures, accounting matters
or other business issues, and he is expected to take on a continuing role with
the Company as advisor to the Chief Financial Officer and the Audit Committee of
the Board of Directors.
Ramesh Murthy, age 42, brings to his new position more than 20 years of
experience in finance and public accounting serving the automotive technology,
software, telecom and advanced manufacturing industries. Mr. Murthy joined Canoo
in March 2021, first serving as the Company's Chief Accounting Officer and, from
July 2021, as SVP, Finance and Chief Accounting Officer. Prior to joining the
Company, Mr. Murthy was a member of the Financial Accounting Advisory Services
group of Ernst & Young LLP, serving as Managing Director from July 2019 until
March 2021, and as Senior Manager from November 2015 to July 2019. Mr. Murthy
also enjoyed a long career in the Audit Practice of Deloitte & Touche LLP from
2004 to 2015. Mr. Murthy holds a Master of Business Administration, Finance from
Texas A&M International University and a Bachelor of Commerce, Accounting from
University of Madras, India.
The Company and Mr. Murthy anticipate entering into a new employment agreement
in connection with his promotion to the role of Interim Chief Financial Officer,
the details of which will be disclosed at a later date upon execution.
Mr. Murthy does not have any family relationships with any director, executive
officer or person nominated or chosen by the Company to become a director or
executive officer of the Company. The Company is not aware of any related
transactions or relationships between Mr. Murthy and the Company that would
require disclosure under Item 404(a) of Regulation S-K. There are no
arrangements or understandings between Mr. Murthy and any other person pursuant
to which Mr. Murthy was selected as an officer of the Company.
On December 17, 2021, Peter Savagian, the Company's Chief Technology Officer,
announced his intention to resign from his position, effective December 31,
2021.
Item 7.01 Regulation FD.
On December 20, 2021, the Company issued a press release announcing recent
changes to the Company's executive management team, including those disclosed
above. A copy of the press release is furnished here as Exhibit 99.1.
The information in this Item 7.01, including Exhibit 99.1, is being furnished
and shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to
the liabilities of that section, nor shall such information be deemed
incorporated by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release dated December 20, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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