On March 19, 2022, Tom Parmakellis, a member of the Board of Directors of GBS Inc., resigned as a member of the Board effective as of such date. Mr. Parmakellis was a member of the Board's Audit Committee, Compensation Committee and Nominating Committee. In connection with Mr. Parmakellis' resignation, the Board appointed George Margelis, a current independent member of the Board, to serve on the Audit Committee; and Christopher Towers, a current independent member of the Board, to serve on the Compensation Committee; and Lawrence Fisher, a current independent member of the Board, to serve on the Nominating Committee.
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