Tingo Group, Inc. announced appointment of Amir Ayalon as the Group?s Chief Financial Officer, effective immediately. Having qualified as a Certified Public Accountant with Ernst & Young at the start of his career, Mr. Ayalon?s experience as an accomplished CEO and Executive at numerous public and private growth companies in the technology and food manufacturing sectors, as an investment banker with UBS and Bank of America, and as Chief Executive Officer of one of Israel?s largest hedge funds, makes him uniquely qualified for the position of Group CFO, and to work with the Company?s Co-CEOs and management team to execute its growth plans and maximize the group?s potential. Mr. Ayalon is a highly accomplished senior executive with over 20 years of cross-industrial involvement in global financial advisory and investment, as well as operational management roles within corporates, hedge funds and investment banks.

Mr. Ayalon?s operational experience spans a variety of industries including fintech, financial services, software and food manufacturing, which are complementary to the Company?s business. Until earlier this year, Mr. Ayalon served as CEO of Celsius Mining, where he was instrumental in rapidly building and scaling the business to a multi-billion-dollar valuation and preparing the company for its planned IPO in mid-2022. Prior to joining Celsius Mining, Mr. Ayalon served in multiple roles including as CEO of a private capital raising and M&A advisory firm, as well as CEO of two venture stage technology companies.

From 2011 to 2015, Mr. Ayalon was the CEO of Sphera Funds Management, one of Israel?s largest hedge funds with offices in Tel Aviv and New York City, prior to which he worked as an M&A banker with UBS and Bank of America, was head of M&A at Nasdaq listed company, Amdocs, and head of corporate development at Tel Aviv Stock Exchange listed company, Strauss Group. Mr. Ayalon also served on the board of Fruitura Bioscience Ltd., an emerging nutraceutical and food manufacturing company from 2011 to 2015 and holds a Bachelor of Arts degree in Accounting & Economics from Tel Aviv University and a Master of Business Administration from Duke University. Concurrent with the above three appointments, the Company?s current Group Chief Financial Officer, Kevin Chen, will move into the position of Asia Chief Financial Officer to oversee the finances of the Company?s businesses in China, Hong Kong and Singapore.