Algorhythm Expands Executive Team
https://www.globenewswire.com/news-release/20...-team.html
Company Formally Introduces New CEO and COO, and Promotes Controller to CFO Role, to Strengthen the Executive Team
Fort Lauderdale, FL, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (the “Company”) (NASDAQ: RIME) – a diversified holding company that owns and operates Azure Energy, a renewable power plant developer, and SemiCab, a leading AI enabled logistics provider, today formally introduced three new members of its executive team.
The leadership appointments include two executives who joined the Company in connection with its acquisition of the Azure Energy business on September 15, 2026, as well as the promotion of the Company's Controller to Chief Accounting Officer and Interim Chief Financial Officer.
As part of the leadership transition associated with the Azure Energy acquisition, Andrew Thompson succeeded Gary Atkinson as Chief Executive Officer, while Leticia Raele assumed the financial leadership responsibilities previously held by Alex Andre. Mr. Atkinson and Mr. Andre remain engaged by the Company as consultants and are working with the new executive team to support an orderly transition, continuity of operations and the transfer of knowledge. The Company also created the new position of Chief Operating Officer and appointed Ryan Smith to that role.
Appointment of Chief Executive Officer
Effective September 15, 2026, the Company’s board of directors (the “Board”) appointed Andrew Thompson to serve as the Company’s Chief Executive Officer.
Mr. Thompson has obtained significant financial and executive leadership experience during his career, developing extensive experience in corporate finance, treasury management, and corporate leadership. He has served as a Managing Partner of Azure Energy, LLC since co-founding the company in August 2025. Mr. Thompson also serves as Co-Founder and Treasurer of Azure Renewables, S.A., located in San José, Costa Rica. Earlier in his career, he served as Co-Owner and Chief Financial Officer of South Georgia Tissue and as Chief Financial Officer of United Tissue, Inc.
Mr. Thompson received an undergraduate degree from Augusta State University and received his MBA from Augusta State University’s College of Business Administration.
In connection with his appointment, the Company issued 2,119,542 shares of restricted stock to Mr. Thompson outside of the Company’s 2022 Equity Incentive Plan in reliance on Nasdaq Listing Rule 5635(c)(4) as an inducement material to Mr. Thompson accepting the Company’s offer to serve as its Chief Executive Officer. Of those shares, 1,059,771 were fully vested on the grant date. The remaining 1,059,771 shares are subject to a restricted stock award agreement and will vest in full on September 15, 2027.
Appointment of Chief Operating Officer
The Board also created the new position of Chief Operating Officer and appointed Ryan Smith to that position effective September 15, 2026.
Mr. Smith has served as Vice President of Development at Azure Energy, LLC since January 2026, where he led the origination and development of energy and infrastructure projects, overseeing the full project lifecycle from site control to permitting. Prior to joining Azure Energy, Mr. Smith held a series of operational risk roles at Wells Fargo Bank, most recently serving as Vice President, Risk Officer in the Wealth Investment Management business in the Charlotte, North Carolina office where he led a variety of risk management programs aimed at documenting and mitigating the firm’s business risks. Prior to that, he served as Vice President, Operational Risk Officer in Recovery & Resolution Planning, as Assistant Vice President, Operational Risk Consultant in Asset Backed Finance, and as an Operational Risk Consultant within Wealth and Investment Management from. Earlier in his career, he served as an Operations Manager at Hexcel Corporation, a global leader in advanced composite materials, and, prior to that, served as an Infantry Officer and Risk Assessment Officer in the United States Army.
Mr. Smith received his Bachelor of Arts degree from the University of California, Santa Barbara, and his MBA from the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School.
In connection with his appointment, the Company issued 2,119,542 shares of restricted stock to Mr. Thompson outside of the Company’s 2022 Equity Incentive Plan in reliance on Nasdaq Listing Rule 5635(c)(4) as an inducement material to Mr. Thompson accepting the Company’s offer to serve as its Chief Executive Officer. Of those shares, 1,059,771 were fully vested on the grant date. The remaining 1,059,771 shares are subject to a restricted stock award agreement and will vest in full on September 15, 2027.
Appointment of Chief Accounting Officer and Interim Chief Financial Officer
Effective September 15, 2026, the Board promoted Leticia Raele from her position as Controller of the Company to the position of Chief Accounting Officer and Interim Chief Financial Officer.
Prior to joining the Company as Controller, Ms. Raele held a series of accounting leadership roles at FlexShopper, LLC, the principal operating subsidiary of FlexShopper, Inc., a publicly traded financing solutions business, most recently as Chief Accounting Officer and, before that, as Controller and Assistant Controller. Earlier in her career, Ms. Raele spent more than 11 years as an accountant for Price Waterhouse & Co. S.R.L., the PwC member firm in Argentina, most recently as an Audit Manager where she led audits of public and private companies.
Ms. Raele received her degree in Public Accounting from the Universidad de Buenos Aires and holds the Diploma in International Financial Reporting from the Association of Chartered Certified Accountants.
https://www.globenewswire.com/news-release/20...-team.html
Company Formally Introduces New CEO and COO, and Promotes Controller to CFO Role, to Strengthen the Executive Team
Fort Lauderdale, FL, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (the “Company”) (NASDAQ: RIME) – a diversified holding company that owns and operates Azure Energy, a renewable power plant developer, and SemiCab, a leading AI enabled logistics provider, today formally introduced three new members of its executive team.
The leadership appointments include two executives who joined the Company in connection with its acquisition of the Azure Energy business on September 15, 2026, as well as the promotion of the Company's Controller to Chief Accounting Officer and Interim Chief Financial Officer.
As part of the leadership transition associated with the Azure Energy acquisition, Andrew Thompson succeeded Gary Atkinson as Chief Executive Officer, while Leticia Raele assumed the financial leadership responsibilities previously held by Alex Andre. Mr. Atkinson and Mr. Andre remain engaged by the Company as consultants and are working with the new executive team to support an orderly transition, continuity of operations and the transfer of knowledge. The Company also created the new position of Chief Operating Officer and appointed Ryan Smith to that role.
Appointment of Chief Executive Officer
Effective September 15, 2026, the Company’s board of directors (the “Board”) appointed Andrew Thompson to serve as the Company’s Chief Executive Officer.
Mr. Thompson has obtained significant financial and executive leadership experience during his career, developing extensive experience in corporate finance, treasury management, and corporate leadership. He has served as a Managing Partner of Azure Energy, LLC since co-founding the company in August 2025. Mr. Thompson also serves as Co-Founder and Treasurer of Azure Renewables, S.A., located in San José, Costa Rica. Earlier in his career, he served as Co-Owner and Chief Financial Officer of South Georgia Tissue and as Chief Financial Officer of United Tissue, Inc.
Mr. Thompson received an undergraduate degree from Augusta State University and received his MBA from Augusta State University’s College of Business Administration.
In connection with his appointment, the Company issued 2,119,542 shares of restricted stock to Mr. Thompson outside of the Company’s 2022 Equity Incentive Plan in reliance on Nasdaq Listing Rule 5635(c)(4) as an inducement material to Mr. Thompson accepting the Company’s offer to serve as its Chief Executive Officer. Of those shares, 1,059,771 were fully vested on the grant date. The remaining 1,059,771 shares are subject to a restricted stock award agreement and will vest in full on September 15, 2027.
Appointment of Chief Operating Officer
The Board also created the new position of Chief Operating Officer and appointed Ryan Smith to that position effective September 15, 2026.
Mr. Smith has served as Vice President of Development at Azure Energy, LLC since January 2026, where he led the origination and development of energy and infrastructure projects, overseeing the full project lifecycle from site control to permitting. Prior to joining Azure Energy, Mr. Smith held a series of operational risk roles at Wells Fargo Bank, most recently serving as Vice President, Risk Officer in the Wealth Investment Management business in the Charlotte, North Carolina office where he led a variety of risk management programs aimed at documenting and mitigating the firm’s business risks. Prior to that, he served as Vice President, Operational Risk Officer in Recovery & Resolution Planning, as Assistant Vice President, Operational Risk Consultant in Asset Backed Finance, and as an Operational Risk Consultant within Wealth and Investment Management from. Earlier in his career, he served as an Operations Manager at Hexcel Corporation, a global leader in advanced composite materials, and, prior to that, served as an Infantry Officer and Risk Assessment Officer in the United States Army.
Mr. Smith received his Bachelor of Arts degree from the University of California, Santa Barbara, and his MBA from the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School.
In connection with his appointment, the Company issued 2,119,542 shares of restricted stock to Mr. Thompson outside of the Company’s 2022 Equity Incentive Plan in reliance on Nasdaq Listing Rule 5635(c)(4) as an inducement material to Mr. Thompson accepting the Company’s offer to serve as its Chief Executive Officer. Of those shares, 1,059,771 were fully vested on the grant date. The remaining 1,059,771 shares are subject to a restricted stock award agreement and will vest in full on September 15, 2027.
Appointment of Chief Accounting Officer and Interim Chief Financial Officer
Effective September 15, 2026, the Board promoted Leticia Raele from her position as Controller of the Company to the position of Chief Accounting Officer and Interim Chief Financial Officer.
Prior to joining the Company as Controller, Ms. Raele held a series of accounting leadership roles at FlexShopper, LLC, the principal operating subsidiary of FlexShopper, Inc., a publicly traded financing solutions business, most recently as Chief Accounting Officer and, before that, as Controller and Assistant Controller. Earlier in her career, Ms. Raele spent more than 11 years as an accountant for Price Waterhouse & Co. S.R.L., the PwC member firm in Argentina, most recently as an Audit Manager where she led audits of public and private companies.
Ms. Raele received her degree in Public Accounting from the Universidad de Buenos Aires and holds the Diploma in International Financial Reporting from the Association of Chartered Certified Accountants.
