Verde Resources Appoints New Directors, Adjusts Executive Pay

TL;DR

Verde Resources adds two directors and revises CEO/CFO pay packages effective Aug 1.

AI Summary

Verde Resources, Inc. announced on August 1, 2024, a change in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Mr. David L. Johnson and Mr. David M. Miller, to its board. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Mr. Robert L. Johnson, and Chief Financial Officer, Mr. Michael J. Smith, effective August 1, 2024.

Why It Matters

The appointment of new directors and changes to executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and financial management.

Key Players & Entities

• Verde Resources, Inc. (company) — Registrant
• David L. Johnson (person) — Newly elected director
• David M. Miller (person) — Newly elected director
• Robert L. Johnson (person) — Chief Executive Officer
• Michael J. Smith (person) — Chief Financial Officer
• August 1, 2024 (date) — Effective date of changes

FAQ

Filing Documents

• vrdr_8k.htm (8-K) — 19KB
• 0001640334-24-001193.txt ( ) — 130KB
• vrdr-20240801.xsd (EX-101.SCH) — 6KB
• vrdr-20240801_lab.xml (EX-101.LAB) — 13KB
• vrdr-20240801_cal.xml (EX-101.CAL) — 1KB
• vrdr-20240801_pre.xml (EX-101.PRE) — 8KB
• vrdr-20240801_def.xml (EX-101.DEF) — 2KB
• vrdr_8k_htm.xml (XML) — 3KB

02 Appointment of Certain Officers

Item 5.02 Appointment of Certain Officers Effective August 1, 2024, Jeremy P. Concannon will be appointed as Chief Growth Officer ("CGO") of Verde Resources, Inc (the "Company"). The Company believes that the education, business and operational experience of Jeremy P. Concannon give him the qualifications and skills necessary to serve as CGO of the Company. Mr. Jeremy P. Concannon (4 7 ) Jeremy Concannon began his career in his family's business, progressing from entry-level roles to inside and outside sales. He played a key role in driving substantial growth, leading to the company's acquisition by a major strategic buyer. As Vice President of Sales, Jeremy led a high-performing team, managed the hiring and onboarding of top sales talent, and developed effective sales strategies. His leadership consistently delivered year-over-year growth and profitability, positioning the business as an industry leader. Jeremy is adept at developing and expanding sales teams, building cohesive, motivated groups focused on achieving sales success and company growth objectives. 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VERDE RESOURCES, INC. /s/ Jack Wong Jack Wong Chief Executive Officer Date: August 5, 2024 3

View Full Filing

View this 8-K filing on SEC EDGAR