Randolph Jones has stepped down as CEO and Chairman of the Board effective May 8, 2026. The departure is described as mutual and not due to any disputes regarding company operations or policies. Virgilio Torres, the current CFO, has been appointed as the new CEO and Chairman. Torres will maintain his CFO responsibilities while the company searches for a replacement. Jones will receive six months of base salary severance at a $300,000 annual rate and retains one year to exercise vested stock options.