Celsius backtracks on hiring former CFO as consultant

Celsius has withdrawn its question to rehire erstwhile CFO Rod Bolger arsenic a consultant, according to an August 5 court filing.

Reports had emerged that the steadfast wanted to rehire Bolger for astatine slightest six weeks successful an advisory capacity. However, the question was opposed by Keith Suckno, 1 of Celsius’ investors.

According to Celsius, Bolger’s acquisition with its concern could assistance it navigate the murky waters of the bankruptcy process. Suckno disagrees, arguing that the embattled lender did not supply capable accusation connected wherefore the ex-CFO was needed erstwhile different employees could execute the aforesaid role.

A CNBC study stated that Bolger was inactive technically an worker of Celsius and was inactive connected the firm’s payroll. Bolger gave Celsius 8 weeks’ announcement of voluntary termination of employment connected June 30, 2022, which means helium remains an worker until August 30.

It is unclear if Bolger would person received treble compensation astatine Celsius arsenic helium was inactive earning a monthly basal wage of $62,500 arsenic an employee, portion the firm’s question to rehire him wanted to wage him $92,000 monthly arsenic a consultant.

Aside from Suckno, different customers besides objected to the determination to rehire Bolger. The justice successful complaint of the lawsuit received implicit 100 letters from aggravated and weary customers. An lawyer described the determination to rehire him arsenic an illustration of the “level of callous indifference to the customers of Celsius.”

The embattled crypto steadfast has faced respective different challenges recently, including a recent information breach and a people enactment lawsuit successful the U.S.

The station Celsius backtracks connected hiring erstwhile CFO arsenic consultant appeared archetypal connected CryptoSlate.