SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 19, 2023, the board of directors (the “Board”) of Digital World Acquisition Corp., a Delaware corporation (the “Company”), terminated Patrick Orlando from his positions as Chairman and Chief Executive Officer of the Company. Mr. Orlando remains a director of the Company.
In connection with Mr. Orlando’s departure as Chief Executive Officer, the Board appointed Eric Swider as Interim Chief Executive Officer. Mr. Swider, a director of the Company, was previously chair of the Company’s audit committee and a member of the Company’s compensation committee. He remains a director of the Company but has resigned from all committee positions in connection with his appointment as Interim Chief Executive Officer. There is no arrangement or understanding between Mr. Swider and any other person pursuant to which he was named Interim Chief Executive Officer of the Company.
Mr. Swider has served as the Company’s director since September 2021. Mr. Swider has been serving as the Chief Executive Officer of RUBIDEX since January 2020, a start-up company focusing on data security. Mr. Swider founded Renatus Advisors and has been serving as the Partner of Renatus LLC since June 2016. Renatus Advisors works with private clients to resolve complex strategic and operational matters as well as public clients, providing services related to Disaster and Economic Recovery. From September 2016 to January 2018, Mr. Swider served as the Managing Director of Great Bay Global, where he oversaw the launch of a new business division focused on investing in alternative strategies. From December 2014 to June 2016, Mr. Swider served as the Managing Director of OHorizons Global, where he oversaw expansion of a new investment team and was responsible for working on a global basis to expand its client base and investment portfolio. From February 2010 to December 2015, Mr. Swider served as the Managing Director of Oceano Beach Resorts, where he was responsible for growing its new property and resort management group. Mr. Swider has also served as a director of Benessere Capital Acquisition Corp., a special purpose acquisition company. Mr. Swider received his education in Mechanics Engineering and Nuclear Science Studies at US Naval Engineering and Nuclear ‘A’ School, an intensive program studying nuclear physics, heat transfer and fluid flow, advanced mathematical practices and engineering principles.
On March 22, 2023, the Company issued a press release announcing the above-referenced changes to management. The press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description of Exhibits | |
| 99.1 | Press Release dated March 22, 2023. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Digital World Acquisition Corp. | ||||||
| Dated: March 22, 2023 | By: | /s/ Eric Swider | ||||
| Name: | Eric Swider | |||||
| Title: | Interim Chief Executive Officer | |||||