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In a recent development, Blink Charging Co. (NASDAQ:BLNK), a provider of electric vehicle charging equipment and services, has announced the appointment of Michael Battaglia as its new President and Chief Executive Officer, effective February 1, 2025. The announcement came following a filing with the Securities and Exchange Commission on Tuesday.
Battaglia, who has been with Blink Charging since July 2020, previously held the position of Chief Operating Officer. His promotion to CEO was accompanied by his election to the company’s Board of Directors, expanding the board to eight members. His extensive experience in the automotive and EV charging industry, including over 25 years in various management roles, is expected to bring valuable leadership to Blink Charging.
Under the terms of the employment agreement dated January 23, 2025, Battaglia will receive an annual base salary of $575,000 and will be eligible for performance-based bonuses under the company’s short-term and long-term incentive plans. Additionally, he will receive a one-time equity signing bonus of $150,000 in restricted common stock.
Battaglia’s performance-based bonuses will be determined by specific key performance indicators as set by the Board’s Compensation Committee. His long-term incentive bonus includes both performance-based stock awards, contingent on achieving stock price targets, and time-based stock awards that vest annually.
The employment agreement also contains provisions for severance payments in the event of termination without cause or for good reason. Moreover, it includes confidentiality obligations and non-solicit clauses effective during and after his employment with Blink Charging.
This leadership change comes at a pivotal time for Blink Charging as the company navigates the expanding electric vehicle market. The information for this article is based on a press release statement.
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