The Board of BrainChip Holdings Ltd (ASX:BRN)
has today mutually agreed with Louis DiNardo that his role as Managing Director and Chief Executive Officer of Brainchip has terminated without cause, effective immediately.
He has served as Managing Director and CEO of the Company since 2016 and is leaving the Company to pursue other interests.
The Board has appointed Peter van der Made, the current Chief Technology Officer, co-founder of Brainchip and Executive Director as the interim CEO while a search is completed for a new CEO.
Mr DiNardo will remain employed by Brainchip in a part time role to further assist with the transition for a period of 12 months.
Shares in BrainChip Holdings Ltd (ASX:BRN)
are trading 4.5 per cent lower at 53 cents.