Leadership & Pay ·
Abits Group names Stephen Faucetta CEO as Conglin Deng is terminated
ABTSAbits Group Inc
Abits Group Inc. terminated Conglin Deng as Chief Executive Officer without cause on October 6, 2026, following a financing-related triggering event under his employment agreement. The Board appointed Stephen Faucetta, previously the company's Chief Investment Officer and an executive at Spartan Capital, to succeed him as CEO and Chairman of the Board. Additionally, directors Yanyan Sun and Khuat Leok Choong resigned, while Glenn Josephs and Mohsen Khorassani were elected as independent directors to fill the vacancies. This leadership overhaul signals a strategic shift in management for the company.