TZ Limited announced that Scott Beeton resigned as Managing Director and Chief Executive Officer ("CEO") effective September 17, 2021. The board of TZ Limited appointed Mr. Mario Vecchio as the new CEO. Mr. Vecchio has a successful track record in building technology-based companies. Throughout his career, Mr. Vecchio has developed significant technical expertise through positions in global companies including Siemens and Cisco Systems. He enjoyed success as a founder of Progility Technologies, which grew to over 800 employees and over $150m in revenue (eventually sold to a PE firm). Mr. Vecchio then joined APJC Bigswitch, taking Asia from zero revenue to 20% of global revenue. Next came Aryaka Networks, where again Mr. Vecchio took Asia from zero sales to over 10% of global revenue. Aryaka Networks is currently under a sale process.