# Evolv Technology Holdings CEO terminated, replaced by Michael Ellenbogen as Interim CEO

Evolv Technology Holdings Inc. (NASDAQ: EVLV) recently announced changes in its executive leadership. The Board of Directors terminated Peter George, who served as the President and Chief Executive Officer (CEO) without cause, effective immediately, on October 30, 2024. Concurrently, Michael Ellenbogen, the Chief Innovation Officer of the company and a board member, has been appointed as the Interim President and CEO.

Michael Ellenbogen, 59, has a rich background in the security technology industry, having co-founded Evolv Technologies, Inc. in 2013, which later became a subsidiary of Evolv Technology Holdings. He had been serving as the Head of Advanced Technology before taking over as Chief Innovation Officer in 2021. Ellenbogen’s prior experience includes roles such as CEO of Evolv Technologies, Inc. and leadership positions in companies like Reveal Imaging Technologies and PerkinElmer Detection Systems.

In connection with his new role as Interim President and CEO, Ellenbogen will receive an additional monthly payment of $25,000 until a permanent successor to Peter George is appointed. The appointment was made by the Board without arrangements or understandings with any other person.

Regarding Peter George’s departure, he is set to receive severance payments and benefits as per the terms of the Company’s Executive Severance and Change in Control Plan, subject to executing an enforceable release of claims against the Company and related parties.

The company issued a press release on October 31, 2024, detailing these changes and the ongoing transition process. The Board had initiated a succession planning committee earlier in May 2024 to evaluate leadership performance and plan for an orderly transition in CEO positions.

The Board expressed appreciation for Peter George’s dedication and contributions while emphasizing the need for a change in leadership to enhance the company’s culture for further growth. The Board also reiterated its commitment to a thorough investigation of any potential issues related to sales practices and financial reporting to maintain transparency and integrity across its operations.

Evolv Technology, known for its AI-based security screening solutions, aims to create safer experiences in various environments. The company has been active in transforming security measures with innovative technologies and analytics, ensuring safety and efficiency in diverse settings.

Investors and stakeholders are advised to stay tuned for updates on Evolv Technology’s leadership transition and any further developments in the internal investigation, as the company continues its mission to create a safer world through advanced security solutions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NewHold Investment Corp. II’s 8K filing here.

About NewHold Investment Corp. II

NewHold Investment Corp. II does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus on the industrial technology business.