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PS International Group Ltd. Leadership Shake-up: CEO Resignation & New Appointment

$PSIG
Form 6-K
Filed on: 2024-12-31
Source
PS International Group Ltd. Leadership Shake-up: CEO Resignation & New Appointment

Here are the key insights extracted from the provided section of the financial report:

  1. Filing Details:
  • Type: Form 6-K
  • Filing Date: December 31, 2024
  • Company: PS International Group Ltd.
  • SEC Commission File Number: 001-42182
  1. Resignations:
  • Hok Wai Alex Ko: Resigned as Chief Executive Officer and Director effective December 31, 2024. The resignation was for personal reasons, with no disagreement with the company reported.
  • Wing Yui Felix Lau: Resigned as Chief Operating Officer effective December 30, 2024. Similar to Mr. Ko, his resignation was for personal reasons and not due to any disagreement with the company.
  1. Appointment:
  • Hang Tat Gabriel Chan: Appointed as Chief Executive Officer and Director effective January 1, 2025, to fill the vacancy left by Mr. Ko.
  • Annual compensation for Mr. Chan is set at HK$ 1,334,400 (approximately USD 171,077), continuing to be paid from the company's operating entity, Profit Sail Int'l Express (H.K.) Limited.
  1. Background of New CEO:
  • Mr. Chan has been the General Manager of Profit Sail HK since September 2021.
  • Prior to that, he held various management positions at DHL Global Forwarding from 1984 to 2021, focusing on Sales & Marketing and Logistics Management.
  • He holds a professional diploma in logistics and supply chain management from the Hong Kong Management Association (2005).
  1. No Conflicts of Interest:
  • Mr. Chan does not have any family relationships with other directors or executive officers of the company and has not been involved in any transactions requiring disclosure under Item 404(a) of Regulation S-K during the past two years.
  1. Exhibit:
  • The filing includes an employment agreement (Exhibit 10.1) between Mr. Hang Tat Gabriel Chan and PS International Group Ltd.

This summary captures the significant managerial changes within PS International Group Ltd., highlighting the transition in leadership and compensation details for the new CEO.