Xwell CFO Suzanne Scrabis departs, Ian Brown succeeds

XWELL (XWEL) announced new senior leadership appointments to support the Company’s strategic growth and business objectives. Ian Brown joined the Company as its new CFO on January 6, 2025, succeeding Suzanne Scrabis, whose separation is effective as of January 8, 2025. XWELL announced that in connection with Mr. Brown’s employment with the Company and as material inducement into entering into an employment agreement with the Company, pursuant to NASDAQ Listing Rule 5635(c)(4), Mr. Brown will be granted stock options to purchase up to 37,000 shares of common stock at an exercise price equal to the fair market value on the date of the grant, which shall be the closing price on January 6, 2025. The stock options will vest in four quarterly installments of 25% each on the first, second, third and fourth quarters after the grant date, subject to Mr. Brown’s continued employment with the Company on the appliable vesting dates. Additionally, the Company announced the appointments of Peter Vermeulen as its new head of Human Resources and Mike Heronime as its new Marketing Director. In alignment with the Company’s strategy to remain agile while working toward profitability, both Mr. Vermeulen and Mr. Heronime are joining XWELL on a fractional basis. Brown recently was a Managing Director of the Strategic FP&A Group at Accordion. Vermeulen brings over 25 years of global HR experience, including senior roles at TeleSign, Amazon, and Johnson & Johnson. Heronime served as President and Executive Director of Creative Solutions for Positive Brand.