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- Previously Announced CFO Declined Appointment Before Starting (new) — Wallace Foo withdrew from CFO role on May 25 due to personal and family reasons before commencing service, requiring emergency replacement search.
NUSATRIP overhauls C-suite: removes COO, appoints new CFO after prior pick declines role
Filed June 9, 2026 · Period ending June 2, 2026 · ~1 min read
Key Changes
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Board removed COO Ade Irawan effective June 2, stripping all officer, management, banking, and platform access across company and subsidiaries. Filing states no disagreements but comprehensive access removal suggests significant separation.
Item 5.02 verify on EDGAR → -
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Appointed Loïc Gautier as CFO at $150K base salary after previously announced CFO Wallace Foo declined role before starting due to personal reasons. Gautier has 10+ years in Southeast Asia tech/e-commerce, founded Leflair (acquired 2021).
Item 5.02 verify on EDGAR → -
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Named Hongwei Zhang as Chief Revenue Officer starting June 20 at RMB 55K monthly plus performance incentives. Zhang previously worked for Beijing BaoSheng, a principal airline supplier to NUTR, raising potential conflict-of-interest questions.
Item 5.02 verify on EDGAR → -
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Appointed Binglin Yu as CTO at RMB 55K monthly. Yu previously served as CTO of company's Beijing subsidiary since April 2025 and led establishment of Beijing tech office and B2B air ticket platform.
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Formalized CEO Patrick Soetanto Tjin's employment agreement at $150K annual base plus minimum 25% performance bonus, concurrent with broader executive restructuring.
Item 5.02 verify on EDGAR →
Summary
NUSATRIP executed a dramatic C-suite overhaul on June 2, removing its COO and appointing three new executives after its previously announced CFO backed out before starting. The board removed COO Ade Irawan and stripped him of all access rights across the company—a comprehensive separation that, while described as amicable, suggests urgency.
The company simultaneously appointed Loïc Gautier as CFO after Wallace Foo declined the role weeks earlier, naming Binglin Yu as CTO and Hongwei Zhang as Chief Revenue Officer. Retail investors should note the rapid leadership turnover and the circumstances around the CFO position, which required two appointments in quick succession.
The new CRO's prior employment with Beijing BaoSheng—a principal airline supplier to NUTR—warrants scrutiny for potential conflicts of interest in supplier negotiations. The formalization of CEO compensation concurrent with these changes suggests a broader governance reset. Watch for: (1) any further disclosures about the COO separation or severance terms, (2) how the new CFO addresses financial reporting given the company's recent compliance challenges, and (3) whether the CRO's supplier relationships create material related-party transactions requiring disclosure.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
NUTR appointed new CFO, CTO, and CRO while removing COO; prior CFO appointee declined role before starting.
Added in current filing · verify on EDGAR →
On June 2, 2026 the Board appointed Loïc Gautier (“Mr. Gautier”) as Chief Financial Officer of the Company, effective June 2, 2026. Pursuant to his employment arrangement, Mr. Gautier is entitled to an annual base salary of US $150,000, eligibility for a discretionary annual cash bonus, equity-based compensation, and participation in the Company’s executive benefit and incentive plans on terms generally applicable to other executive officers.
The company appointed Loïc Gautier as CFO effective June 2, 2026, with $150,000 annual base salary plus bonus and equity eligibility. Mr. Gautier has over ten years of experience in technology and e-commerce across Southeast Asia, including founding Leflair (acquired by Society Pass in 2021) and supporting SOPA's 2022 Nasdaq IPO. This follows the May 25 withdrawal of previously announced CFO appointee Wallace Foo.
Added in current filing · verify on EDGAR →
On June 2, 2026, the Board appointed Hongwei Zhang (also known as “Neil”) (“Mr. Zhang”) as Chief Revenue Officer of the Company, with employment commencing on June 20, 2026. Pursuant to his employment arrangement, Mr. Zhang is entitled to a base salary of RMB 55,000 per month, and is eligible for performance-based and milestone-based incentive compensation.
The company appointed Hongwei Zhang as Chief Revenue Officer starting June 20, 2026, at RMB 55,000 monthly salary plus performance incentives. Mr. Zhang has over 20 years in aviation and online travel, including roles at Fliggy Travel (Alibaba), Happyeasygo (overseeing 45 million users), and most recently as Global Airline Partnership Director at YeePay. Notably, he previously worked for Beijing BaoSheng group from November 2023 to September 2025, which is a principal airline content supplier to the company.
Event · Item 9.01 — Financial Statements and Exhibits
NUTR disclosed employment agreements for two executives and a letter of offer for a third, effective June 1, 2026.
Added in current filing · verify on EDGAR →
Employment Agreement, dated June 1, 2026, between the Company and Loic Gautier
The company entered into an employment agreement with Loic Gautier effective June 1, 2026. The 8-K does not disclose the role, compensation, or other material terms of this agreement.
Added in current filing · verify on EDGAR →
Employment Agreement, dated June 1, 2026, between the Company and Patrick Soetanto Tjin
The company entered into an employment agreement with Patrick Soetanto Tjin effective June 1, 2026. Patrick Soetanto Tjin is identified as the Chief Executive Officer in the signature block, indicating this may formalize or update his executive compensation arrangement.
Added in current filing · verify on EDGAR →
Letter of Offer, dated May 14, 2026, between the Company and Hongwei Zhang
The company issued a letter of offer to Hongwei Zhang dated May 14, 2026. The 8-K does not disclose the role, compensation, or other material terms of this offer.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 9, 2026 · How we verify