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Sadot Group Inc. (NASDAQ:SDOT) announced Friday the appointment of Paul Sansom as Chief Financial Officer, effective immediately, following the resignation of Jennifer Black from the CFO position on Monday. According to a press release statement and SEC filing, Black’s departure was not the result of any disagreement with the company regarding its operations, policies, or practices. She has agreed to serve as a consultant to Sadot Group for 60 days.
Paul Sansom, age 60, previously served on Sadot Group’s Board of Directors and Audit Committee. Upon his appointment as CFO, Sansom resigned from both positions, with the company stating that his resignation was not due to any disagreement with management or board matters.
Sansom’s employment agreement sets his base salary at $190,000 for the first six months. Subject to a performance review, his annual base salary will increase to at least $380,000 starting in the seventh month. He is also eligible for an annual performance bonus, the terms of which will be determined by the Board of Directors. Additionally, Sansom will receive a grant of restricted shares valued at $90,000, vesting quarterly beginning October 1, 2025, contingent on continued employment and satisfactory performance. The agreement includes standard benefits, expense reimbursement, and participation in company benefit plans. If terminated without cause or if Sansom resigns for good reason, he will be entitled to 12 months of base salary as severance, subject to a general release.
With Sansom’s resignation from the Board and Audit Committee, Sadot Group currently has fewer than three independent directors on its Audit Committee, which does not meet Nasdaq Listing Rule 5605(c)(2)(A) requirements. The company stated it intends to appoint a new independent director within the cure period, which extends until the earlier of its next annual shareholders’ meeting or August 1, 2026, or until January 26, 2026, if the annual meeting occurs before that date.
As part of her separation, Black will receive $350,000 in severance over 12 months, COBRA coverage, a $207,159.11 past due bonus payable over five years, and immediate vesting of all unvested restricted stock awards.
All information is based on a press release statement and the company’s Form 8-K SEC filing.
In other recent news, Sadot Group Inc. reported a strong financial performance for the first quarter of 2025, with a 24.1% increase in revenue compared to the same period last year. The company achieved a net income of $900,000, reversing a previous net loss of $300,000 from Q1 2024. Earnings per share rose to $0.18 from a loss of $0.06, indicating a notable improvement in profitability. Additionally, Sadot Group announced a public offering priced at $1.00 per share, aiming to raise $2.5 million in gross proceeds, with ThinkEquity as the sole placement agent. The proceeds are intended for general working capital, corporate purposes, and debt repayment. In leadership changes, Claudio Torres has been appointed as Chairman of the Board, effective June 18, 2025, bringing over 30 years of experience in agriculture and supply chain sectors. Furthermore, Mr. Chagay Ravid has been named the new Chief Executive Officer, tasked with overseeing strategic initiatives and business growth. Ravid’s background includes significant achievements in capital markets and technology-driven sectors. These developments reflect Sadot Group’s ongoing strategic and financial activities.
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