Vape maker Chill Brands has reinstated Callum Sommerton as chief executive, effective immediately.
The company, which sells nicotine-free vape products in the UK and the US, has suspended Sommerton in April after allegations were raised around the company’s use of inside information and appointed law firm Fieldfisher to conduct an investigation into the allegations.
The board said the preliminary view from Fieldfisher has been that the allegations will not be evidenced to a sufficient degree.
“Consequently, the board have unanimously agreed to discontinue this investigation and reinstate Callum Sommerton as chief executive officer, with full responsibilities for running the day to day operations, with immediate effect,” the company said in a regulatory filing on Tuesday.
Meanwhile, a general meeting of the company held on Tuesday decided to remove chief operating officer Trevor Taylor and chief commercial officer Antonio Russo from the board. Both will remain as employees of the company.
The company has appointed two new directors, Aditya Chathli and Graham Duncan, to the board. Chathli, a capital markets and media strategist, will serve as the non-executive chairman, and Duncan, a UK-based chartered accountant, as finance director.
