By Ben Glickman
Society Pass named Chief Financial Officer Raynauld Liang as chief executive.
The Singapore-based e-commerce and fintech company said in a regulatory filing Friday that CEO Dennis Nguyen resigned from the company Thursday. Society Pass said Nguyen’s resignation didn’t result from a disagreement with the company.
Liang previously led the investment function of L K Ang Corporate, a family office, and founded Connex Capital, an initial public offering-focused advising company. He also served as CFO of Sino Environment Technology Group from 2007 to 2010, Society Pass said.
The company also appointed Yee Siong Tan as CFO. Tan, 40, is the company’s controller and previously served as financial controller for ISOTeam, a construction engineering company, and finance manager for Hoe Leong Corp., a shipping and equipment supplier.
Society Pass said Liang will receive an annual base salary of $600,000, while Tan will receive an annual salary of $150,000. Both will be eligible to participate in Society Pass’s bonus plan.
Along with the executive appointments, Society Pass said it entered a structured financing agreement to sell up to $40 million in shares to Strattners. Under the agreement, Strattners can buy shares at 96% of the current market price.
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