AVAX One CEO Jolie Kahn Resigns on July 3; COO Pete Wylie Assumes Interim Role Amid Nasdaq Compliance Pressure

According to ChainCatcher, Jolie Kahn resigned as CEO of AVAX One Technology (AVX, Nasdaq-listed) on July 3, according to an 8-K filing with the SEC. COO Pete Wylie has been appointed interim CEO. The company stated the departure was mutually agreed upon with no operational, policy, or substantive disputes. Under the separation agreement, Kahn will receive $160,000 in cash severance and $250,000 in common stock.

The board has engaged global executive search firm ZRG Partners to find a permanent successor. The leadership transition occurs as AVAX One faces Nasdaq compliance pressure; the company previously received a notification regarding its stock price falling below the $1 minimum requirement. Shareholders approved a 1-for-12 reverse stock split on May 29, effective June 15.