System1 Inc.
04/26/2024 | Press release | Distributed by Public on 04/26/2024 14:25
Management Change/Compensation - Form 8-K
Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of President & Chief Operating Officer
On April 23, 2024, the Board of Directors (the "Board") of System, Inc. (the "Company") appointed Charles Ursini, who was recently appointed to serve as a Class II director, as the Company's President and Chief Operating Officer, in addition to continuing to serve on the Company's Board.
Mr. Ursini is a Co-Founder of the Company's predecessor business, and has been serving as a member of its senior management team since March 2023. Previously, Mr. Ursini served as the Company's first chief executive officer from its initial founding as OpenMail in 2014 until 2019, and also served as a Director of OpenMail/S1 Holdco until January 2022, when the Company's business combination with Trebia Acquisition Corp. was consummated. Prior to System1, Mr. Ursini served in various roles at Leaf Group Ltd. (formerly Demand Media, Inc.) where he oversaw several business units including B.I., Analytics, Monetization & Optimization, and Demand Studios, and most recently held the position of Executive Vice President, Platforms. Prior to Leaf Group/Demand Media, Mr. Ursini was an analyst at Amazon, and started his career as a bond trader at Morgan Stanley and UBS. Mr. Ursini received a BBA in Finance & Accounting from Washington State University and his MBA from the University of Southern California.
Similar to the Company's Chief Executive Officer (Michael Blend), Mr. Ursini does not receive any cash compensation from the Company in connection with serving as the Company's President and Chief Operating Officer. The Company does provide health and welfare benefits to Mr. Ursini and his dependents on the same basis that it provides such benefits to its other U.S. based employees, and Mr. Ursini is entitled to participate in the Company's other benefits offerings.