ADOMANI Announces Resignation of Chief Financial Officer and Appointment of Interim CFO

ADOMANI, a Delaware corporation with its principal executive offices in Osceola, Arkansas, recently disclosed a significant change in its leadership team. On January 20, 2025, the company’s Chief Financial Officer, William C. Miller, submitted his resignation to Envirotech Vehicles, Inc., effective immediately. In response to Miller’s departure, the Board of Directors swiftly approved the appointment of Jason Maddox as the Interim Chief Financial Officer on January 21, 2025.

Jason Maddox, 46, who has been serving as the President of ADOMANI since October 16, 2024, brings a wealth of executive leadership experience to his new role. Before joining ADOMANI, he held the position of Chief Executive Officer at Maddox Defense, Inc., a role he had held since June 2008. With a solid background in mechanical engineering and entrepreneurship, Mr. Maddox is expected to continue his strategic contributions to the company as he takes on the role of Interim CFO, in addition to his responsibilities as President.

Mr. Maddox’s transition to Interim CFO does not come without context. On December 18, 2024, ADOMANI acquired Maddox Industries LLC in an agreement that involved the exchange of 3,100,000 shares of the company’s common stock and potential earnout payments of up to $1 million over six months, contingent on the performance of Maddox Industries during this period. The acquisition was previously disclosed in a Form 8-K filed on November 5, 2024.

Notably, Mr. Maddox’s appointment as Interim Chief Financial Officer did not involve any prior arrangements or agreements. Additionally, there are no familial relationships between Maddox and any other ADOMANI director or executive officer. The company underscored that, except for the disclosed acquisition, there are no other transactions or interests involving Mr. Maddox that require further disclosure under Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934.

Regarding his appointment, Mr. Maddox stated his commitment to supporting ADOMANI in its financial functions and contributing to the company’s growth trajectory. ADOMANI, in its filing, did not mention any compensation changes for Mr. Maddox in light of his additional responsibilities as Interim Chief Financial Officer.

The leadership change at ADOMANI comes amid a period of strategic evolution in the company and highlights the commitment to ensuring stability and continued growth. For further details and updates on ADOMANI, investors and stakeholders are encouraged to review the company’s disclosures as filed with the Securities and Exchange Commission.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ADOMANI’s 8K filing here.

ADOMANI Company Profile

Envirotech Vehicles, Inc engages in the design, manufacture, and installation of zero-emission electric drivetrain systems for fleet vehicles. Its products and services include zero-emission vehicles and chassis; e-trikes; and Neighborhood Electric Vehicles that are enclosed vehicles with seatbelts, climate control, and fold-down rear seats.