fuboTV had some big news just before the holiday weekend. The streaming service’s CFO will be leaving the company.
The news was shared on Twitter after an SEC form was filed at the end of June. In the filing from June 29, fuboTV wrote that the company entered into an “employment transition agreement” with Simone Nardi, the Company’s Chief Financial Officer.
The filing says: “After successfully taking the Company public on the New York Stock Exchange, Mr. Nardi intends to pursue other opportunities and agreed to continue in his current role as Chief Financial Officer to assist in the transition and support of his successor through the earliest of December 31, 2021, or the date on which Mr. Nardi’s employment ends for any reason, or (the date on which Mr. Nardi’s successor as Chief Financial Officer commences employment with the Company. The Company is in the process of searching for a successor to Mr. Nardi. Mr. Nardi will no longer serve as principal financial officer or principal accounting officer as of the Role Conversion Date.”
Nardi will serve as Special Advisor through the end of this year. During that time, “he will continue to receive his current base salary of $430,000 per year, participate in the Company’s employee benefit plans, receive reimbursements for reasonable out-of-pocket business expenses, and be entitled to vacation or paid time off in accordance with applicable Company policy, and his Company equity awards will continue to vest according to their terms.”
fuboTV announced plans for the company to go public on the New York Stock Exchange in summer of 2020, followed by the launch of its public offering of 15 million shares of stock in October 2020.