Majority stockholders holding at least 66 2/3% voting power removed four directors and the CEO and CFO on March 20, 2026, appointing Mr. Youngjik Cho as CEO and Chairman, Mr. Minguk Ji and Mr. Junyoung Yu as directors, and Mr. Yu as Secretary. They amended bylaws to allow majority stockholders to fill board vacancies and approve bylaw changes, amid concerns over a prior merger with MindWave.
Key takeaways
Majority Stockholders (Apimeds Korea, Inscobee, others) removed Directors Elona Kogan, Jakap Koo, Carol O’Donnell, Dr. Bennett Weintraub effective March 20, 2026.
Board removed Dr. Vin Menon as CEO and Mr. Erick Frim as CFO effective March 20, 2026.
Appointed Mr. Youngjik Cho as CEO and Chairman, Mr. Minguk Ji and Mr. Junyoung Yu as Directors effective March 20, 2026.
Mr. Yu appointed Secretary; Messrs. Ji and Yu to Audit, Compensation, Nominating Committees.
Amended bylaws via written consent to allow majority stockholders to fill board vacancies and amend bylaws.
Board approved non-binding MOUs for joint ventures with Assemble, Hilluck, LK Ventures for cosmetics and e-commerce expansion; delayed 1-for-10 reverse stock split.