The Alkaline Water Company Inc (WTER) has released an update to notify the public and investors about its officers.
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Frank Lazaran stepped down as a director and Chairman of the board on January 11, 2024, followed by Frank Chessman’s resignation as President and CEO on January 16, 2024, with David Guarino appointed as Interim CEO and President. Guarino’s compensation for recent fiscal years and partial year services amounted to $277,000, $252,000, and $126,000 respectively, and under an employment agreement, he will receive an annual salary of $252,000 with potential bonuses based on performance. He is also entitled to benefits, an auto allowance, and severance under certain conditions. Additionally, Guarino was granted stock awards and options as part of the company’s 2020 Equity Incentive Plan.
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