Mynaric (NASDAQ: MYNA), a leading provider of industrialized, cost-effective, and scalable laser communications products, has announced that the supervisory board and the CEO have jointly decided on the termination of the office of Mustafa Veziroglu as CEO and member of the management board of Mynaric, with immediate effect — Andreas Reif, with immediate effect, has been named as member of the management board as well as the company’s Chief Restructuring Officer
In his role as CRO, Andreas Reif will be integral to reducing costs and near-term cash consumption while working closely with our customers to meet their requirements. Prior to joining Mynaric, Andreas Reif served in executive financial and operational roles and as a key advisor for industrial manufacturing companies throughout Germany.
With a view to the latest changes in the Management Board, the annual general meeting of Mynaric AG, scheduled for August 29, 2024, shall be postponed. The Company will announce details of this separately in due course.
About Mynaric
Mynaric (NASDAQ: MYNA)(FRA: M0YN) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C.