Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective July 14, 2022, Wen-Piao (Jack) Lai resigned from the Chief Executive
Officer position and the President position of Genufood Energy Enzymes Corp.
(the "Company"). Wen-Piao (Jack) Lai remains as a director of the Board of
Directors (the "Board") of the Company. Wen-Piao (Jack) Lai did not advise the
Company of any disagreement with the Company on any matter relating to its
operations, policies or practices.
On July 14, 2022, the Board of the Company appointed David Tang, age 44, as the
new Chief Executive Officer of the Company to fill the vacancy created by the
resignation of Wen-Piao (Jack) Lai, effective July 15, 2022. Prior to joining
the Company, Mr. Tang was a Relationship Manager of Venture Lending Emerging
Technologies division at East West Bank in California from 2019 to 2022. Prior
to that, Mr. Tang was an advisor to many startups in Hong Kong, including
Maxvoice and Maxisense from 2016 to 2019. Mr. Tang was the founder and the Chief
Executive Officer of Fontainebleau Partners, a technology startup in Hong Kong
from 2012 to 2016. In 2011, Mr. Tang was an Equity Research Analyst at BNP
Paribas Securities in Hong Kong and Taipei. In 2009, Mr. Tang was an MBA
Consultant for Swire Coca-Cola HK Limited. From 2005 to 2008, Mr. Tang was a
Relationship Manager at Manufacturing Bank in California, a Sumitomo Mitsui
Banking Corporation subsidiary. From 2004 to 2005, Mr. Tang was a Client
Financial Analyst at Citibank in California. Mr. Tang has a bachelor degree in
History from University of California, Irvine and a Master of Business
Administration degree in Finance from Hong Kong University of Science &
Technology. Mr. Tang is currently a mentor at KidsX Accelerator, a network of
pediatric experts and innovators founded and administered by Children's Hospital
Los Angeles.
In addition, the Board has approved the following compensation to David Tang: 1)
an annual base salary of $150,000, and 2) the stock options to purchase
15,000,000 shares of the Company's common stock. On July 29, 2022, the Company
and David Tang executed an employment agreement (the "Employment Agreement")
documenting the terms and conditions of David Tang's employment mentioned
hereinabove. There are no arrangements or understandings between David Tang and
any other persons pursuant to which he was selected as the Chief Executive
Officer. David Tang has no direct or indirect material interest in any
transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
There is no family relationship between David Tang and any other director or
officer of the Company.
On July 14, 2022, the Board appointed Jui Pin (John) Lin as the new President of
the Company with a monthly salary of $3,000. Jui Pin (John) Lin has served as a
director since June 17, 2021. He also served as the Company's President from
March 4, 2020 to August 1, 2021 and as the Company's Chief Executive Officer
from March 18, 2020 to August 1, 2021. Mr. Lin previously served as the
Company's President, Chief Executive Officer, Chief Financial Officer, Secretary
and Treasurer, and as a director, from April 18, 2017 to August 4, 2017.
On July 14, 2022, the Board appointed Kuang Ming (James) Tsai as the new Chief
Operating Officer with a monthly salary of $1,800. Kuang Ming (James) Tsai has
served as a director of the Board since June 11, 2018. Mr. Tsai served as the
Company's President from June 29, 2018 to March 4, 2020, the Company's Chief
Executive Officer from June 29, 2018 to March 18, 2020 and the Company's Chief
Financial Officer from September 12, 2018 to March 18, 2020.
1© Edgar Online, source Glimpses
GENUFOOD ENERGY ENZYMES CORP. 
