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Cesare Frepoli has stepped down from the board of directors at Terra Innovatum Global N.V. The company disclosed the move in a Form 8-K filing with the U.S.
Securities and Exchange Commission, noting that Frepoli will retain his executive roles within the organization. Frepoli remains the Chief Operating Officer and Co-Chief Executive Officer of the company's U.S.
The resignation was driven by a specific compliance requirement.
According to the filing, Frepoli left the board solely to ensure the board maintains a majority of independent directors, a mandate set by NASDAQ Listing Rule 5605(b).
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