on Vision Marine Technologies Inc
Vision Marine Technologies Renews CEO Contract
Vision Marine Technologies Inc. has announced the renewal of its Executive Employment Agreement with CEO Alexandre Mongeon. The company, listed on NASDAQ under VMAR, specializes in electric propulsion solutions and marine experiences. Under Mongeon's leadership, the firm transitioned to high-voltage propulsion systems and holds a world electric boat speed record. The company expanded its reach with the acquisition of Nautical Ventures, enhancing its retail presence in Florida.
The renewed agreement includes a bonus for Mongeon's role in the Nautical Ventures acquisition. He will also relocate to Florida to supervise operations. Additionally, the agreement offers cash bonuses and shares contingent on achieving market cap milestones. A Restricted Share Unit Plan was adopted to align management and shareholder interests.
R. H.
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