Item 5.02Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On August 23, 2022, Sino American Oil Co. (the "Company") appointed Olga Palumbo
as a director of the Company to fill the vacancy of former director Queenie
Wong, who resigned as a director of the Company on April 29, 2022. Olga Palumbo
will serve as director for the term of one year, and until her successor is
elected and qualified, or until her earlier resignation or removal.
Dr. Olga Palumbo earned her pediatrics degree in 1989. In 2006, she was the
founder and is the Medical Director at Decus Clinic Swiss SAGL based in
Switzerland. She is also the Medical Director of Swiss Health Care International
which commenced in 2016. Her decades of business knowledge and financial acumen
provide expertise as an Independent Director for Sino American Oil Corp.
There is no arrangement or understanding between Olga Palumbo and any other
persons, pursuant to which she was selected as a director of the Company. Olga
Palumbo has not engaged in any transaction, or any currently proposed
transaction, in which the Company was or is to be a participant and the amount
involved exceeds $120,000, and in which any related person had or will have a
direct or indirect material interest. There are no family relationships between
Olga Palumbo and any director or executive officer of the Company.
On August 23, 2022, the Company appointed Sascha Zilger as a director of the
Company to fill the vacancy of former director Kim Halvorson, who resigned as a
director of the Company on April 29, 2022. Sascha Zilger will serve as director
for the term of one year, and until his successor is elected and qualified, or
until his earlier resignation or removal.
Sascha Zilger was the founder of TwentyFourSeven Cosmetics in 2013. He has
decades of brand building and global business development. Mr. Zilger brings an
independent view and approach to the Company relating to the Company's present
and future growth and marketing plans including all aspects of budgetary and
fiscal allocations. He has been part of teams that developed businesses and
concepts from the startup phase to globally recognized brands. His expertise is
welcomed by the Company.
There is no arrangement or understanding between Sascha Zilger and any other
persons, pursuant to which he was selected as a director of the Company. Sascha
Zilger has not engaged in any transaction, or any currently proposed
transaction, in which the Company was or is to be a participant and the amount
involved exceeds $120,000, and in which any related person had or will have a
direct or indirect material interest. There are no family relationships between
Sascha Zilger and any director or executive officer of the Company.
--------------------------------------------------------------------------------
2
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses