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Foxo Technologies Announces Management Changes And Delays Filing Of Form 10Q; Steve Sabes Was Terminated As COO, Effective November 14

Benzinga · 11/15/2022 13:03

FOXO Technologies Inc. (NYSEAM:FOXO), a technology platform company whose products and services seek to address long-standing, core problems within the life insurance industry through epigenetic longevity science, today announced that effective November 14, 2022, Jon Sabes has been terminated as Chief Executive Officer and Chairman of the Board of the Company. The Board has appointed Tyler Danielson, Chief Technology Officer of the Company, as Interim Chief Executive Officer, and Bret Barnes as Chairman of the Board. The Company has initiated a search process to identify its next Chief Executive Officer. Mr. Danielson will also continue in his role as Chief Technology Officer.

Mr. Danielson has served as the Chief Technology Officer of the Company and its predecessor since 2020. From 2019 to 2020, Mr. Danielson served as DXO Platform Product Owner at one of the largest Global Food Distributors. Before that, from 2015 to 2019, Mr. Danielson served as User Interface Software Architect at a major financial services company. Mr. Danielson holds a Master's Degree in Computer Science from the University of Minnesota and a Bachelor's Degree from Luther College.

"I'm honored by this appointment and would like to express my sincere dedication and unwavering commitment to serving the Company and its shareholders," said Mr. Danielson. "I look forward to working with the Board and Management team to ensure a smooth transition, and I am excited to continue advancing our goal of making healthy longevity fundamental to the insurance industry.

Mr. Barnes has served as a member of the Board since September 13, 2022, the date the Company (previously known as Delwinds Insurance Acquisition Corp.) consummated its business combination with FOXO Technologies Inc. (now a wholly owned subsidiary of the company known as FOXO Technologies Operating Company).

The Compensation Committee of the Board will be meeting shortly to determine the compensation to be paid to Mr. Danielson in connection with his appointment as Interim Chief Executive Officer.

FOXO also announces that Steve Sabes was terminated as Chief Operating Officer, effective November 14, 2022.

Further, FOXO announces that it will file for an extension with the SEC for the filing of its quarterly report on Form 10-Q for the quarterly period ended September 30, 2022.