By Henry Culvyhouse
The (Ashland, Ky.) Daily Independent
ASHLAND, Ky. — Former Braidy Industries CEO Craig Bouchard received $6 million to walk away from the company he founded, according to the latest filing to the Securities and Exchange Commission.
The $6 million pay day for the embattled former executive is just one of the many cards the company laid down on the table in the public filing released on Monday.
While a Braidy spokesperson chose to not disclose whether Bouchard still had an interest in the company last week, the report filed by the company states the founder and the company agreed to “mutual releases by the parties, the redemption of all of Mr. Bouchard’s equity interests in the company” as well as “certain non-competition and non-solicitation covenants by Mr. Bouchard.”
While Bouchard may be off to greener pastures, the board of directors now has two additions: Terry Gill and Bruce Kramer. In addition to board positions, Gill has been named the interim president of Braidy Atlas LLC, while Kramer is the acting Chief Financial Officer of Braidy Industries.
Gill was the Secretary of the Kentucky Cabinet for Economic Development from January 2017 to May 2019. The cabinet was the lead agency in bringing Braidy to the area — it was through the cabinet that the $15 million investment was secured.
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