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Gary Shaw, President, and Doug Deluca, CEO, have officially resigned from EliteXC. According to the SEC filing, both will stay on as "consultants" with the company.
The resignations come as no surprise to the media and were a poorly kept secret despite spin control over the last month and Gary's notable absence at the last two EliteXC events.
Shaw has been a lightning rod of controversy over his two year tenure. Trademark dancing girls, Kimbo's opponents, rapper-style entrances, and scandals involving the "talent" and his son (see aforementioned dancing girl and their tryouts), have all garnered flack from hardcore and masses alike.
Gary's consultancy will garner him $250,000 per year. On top of the salary, Gary will receive an extra $9,900 in monthly housing allowances until October 31, 2008 and he will also keep his 2.5 million in stock options.
Doug stepped down as CEO back in February but remained on as full time Chief Strategy Officer and Chairman of the Board. His official resignation will garner him the same type consultancy that Gary received but at the lowly rate of $210,000 per year. he is due another $50,000 one time fee and 4.5 million stock shares.
ProElite, Inc. has not named replacements for either Doug or Gary as of this posting. |