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Energy Focus, Inc. (NASDAQ:EFOI) reported changes to its board of directors this week, according to a statement filed with the Securities and Exchange Commission. The micro-cap company, currently valued at $12.77 million, has seen its stock surge 85.93% over the past six months.
On Monday, the company received notice from Gina (Mei-Yun) Huang, a member of the board, audit committee, and nomination and compensation committee, that she was resigning from her positions. The company stated that Ms. Huang’s resignation did not involve any disagreement with the operations of Energy Focus.
On Thursday, the board appointed Chao-Jen Huang, an existing independent director, to the audit committee, effective immediately. This appointment fills the vacancy created by Ms. Huang’s departure.
Energy Focus, Inc. is based in Solon, Ohio, and its common stock is listed on The Nasdaq Stock Market LLC under the ticker EFOI. The information in this article is based on a press release statement included in the company’s SEC filing.
In other recent news, Energy Focus, Inc. held its annual meeting of stockholders, where several significant decisions were made. Shareholders elected seven directors, including Kin-Fu Chen and Gina (Mei-Yun) Huang, to serve until the next annual meeting. The election saw strong support, with each nominee receiving over 3.67 million votes in favor. Additionally, stockholders approved the appointment of GBQ Partners LLC as the independent registered public accounting firm for the fiscal year ending December 31, 2025. This measure garnered approximately 3.9 million votes in support. The compensation of the company’s named executive officers was also approved in an advisory vote, with over 3.19 million votes in favor. Furthermore, shareholders expressed a preference for holding future advisory votes on executive compensation every two years, with this option receiving around 3.08 million votes. The meeting witnessed a 75.51% participation rate, representing over 4 million shares of common stock and Series A Convertible Preferred Stock.
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