Tingo Group CFO Amir Ayalon moves to part-time consulting role

Tingo Group announced a change of personnel in connection with the role of Group CFO. Amir Ayalon, who accepted the position of Group CFO on October 2, 2023, has moved into a part-time consultancy role due to a significant change in his personal circumstances. Mr. Ayalon, currently residing in Israel, cited personal difficulties and family commitments stemming from the conflict in the region, which combined with associated travel restrictions, has meant it is no longer possible for him to devote the time and attention required to properly fulfill his duties as CFO of the Group. Mr. Ayalon and the Company have entered into a consulting agreement, wherein Mr. Ayalon will continue to provide financial advisory services to the Company on a part-time basis. Kevin Chen, the Group’s prior Chief Financial Officer, who currently serves as the CFO for the Company’s operations in Asia, has agreed to resume his duties as Group CFO on an interim basis, pending his formal appointment by the Company’s Board of Directors later this week. The Company, with the assistance of Messrs. Ayalon and Chen, as well as the Board of Directors and a leading global executive recruitment agency, will now commence a search for an industry-experienced permanent CFO