Brand Engagement Network Appoints Janine Grasso as Interim CEO

Rhea-AI Summary

Brand Engagement Network (NASDAQ: BNAI) has appointed Janine Grasso as Interim CEO, replacing Paul Chang who will remain on the Board of Directors. Grasso, who has served on BEN's Board since February 2024, brings over 20 years of experience from leadership roles at DocuSign, Verizon, and IBM.

The company reported two significant developments: a $4.25 million reduction in total liabilities during Q2 2025, and progress on its pending acquisition of Cataneo, expected to complete in summer 2025. The acquisition aims to enhance BEN's platform capabilities and international presence.

Positive

• None.

Negative

• Sudden CEO transition could create temporary leadership uncertainty
• Pending acquisition completion still subject to regulatory approvals

Company Strengthens Leadership and Financial Position

WILMINGTON, Del., July 15, 2025 (GLOBE NEWSWIRE) -- Brand Engagement Network Inc. (BEN) (NASDAQ: BNAI), a global provider of AI-powered customer engagement solutions, today announced that Janine Grasso has been appointed Interim Chief Executive Officer, replacing Paul Chang in this role effective immediately. She will continue serving on the Board of Directors, where she has contributed since February 2024, most recently as Chair of the Compensation Committee. Mr. Chang will remain on the Board of Directors and continue to contribute his vision and strategic guidance as BEN advances its innovation agenda and long-term growth plans.

Ms. Grasso brings over two decades of experience leading high-growth, technology-driven organizations. She served as the Head of the Global Partner Ecosystem at DocuSign through early 2025. Previously, Ms. Grasso served as Vice President of Business Development at Verizon from 2019 to 2023, where she led a newly established business development organization. Before joining Verizon, Ms. Grasso spent 20 years at IBM, most recently as Vice President of Blockchain Ecosystem, leading the IBM Blockchain Strategy and Ecosystem Organization. Ms. Grasso received her B.B.A from the Pace University Lubin School of Business.

She has deep expertise in business development, operations, as well as in mergers and acquisitions, with a strong track record of scaling emerging technologies and go-to-market platforms. Ms. Grasso is also accomplished in building high-performing teams and fostering a culture of innovation and accountability. Her leadership in enterprise AI strategy and digital transformation makes her uniquely positioned to guide BEN’s next phase of growth.

“BEN is operating from a position of strength, with world-class talent and a deep foundation in AI innovation,” said Janine Grasso. “I’m honored to help lead the company forward as we bring to market the Agentic AI platform we’ve been building over the past several years—unlocking new value for both our customers and shareholders.”

“Janine’s leadership has earned her the trust of the Board, and she has a proven ability to scale innovation and guide complex organizations,” said Walid Khiari, Chief Financial Officer and Chief Operating Officer of BEN. “We are pleased to have her step into this role at a time of momentum and opportunity for BEN.”

In addition to the leadership transition, BEN announced that it reduced its total liabilities by $4.25 million in the second quarter, a milestone that reflects the company’s ongoing focus on operational discipline and long-term value creation.

The company also continues to advance its pending acquisition of Cataneo, a strategic milestone expected to enhance BEN’s platform capabilities and international presence. The transaction remains on track for completion later this summer, subject to customary approvals.

About Brand Engagement Network (BEN)
Brand Engagement Network Inc. (NASDAQ: BNAI) innovates in AI-powered customer engagement, delivering safe, intelligent, and scalable solutions. Its proprietary Engagement Language Model (ELM™) and Retrieval-Augmented Generation (RAG) architecture enable highly personalized interactions supported by customers’ curated data in closed-loop environments. BEN develops AI-driven engagement solutions for the life sciences, automotive, and retail industries, featuring AI-powered avatars for outbound campaigns, inbound customer service, and real-time recommendations. With a global AI research and development team, BEN provides secure cloud-based or on-premises deployments, granting complete control of the technology stack and ensuring compliance with GDPR, CCPA, HIPAA, and SOC 2 Type 1 standards. The company holds 21 patents, with 28 pending, demonstrating its commitment to advancing AI-driven consumer engagement. For more information, visit www.beninc.ai.

Forward-Looking Statements
Certain statements in this communication are "forward-looking statements" within the meaning of federal securities laws. They are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect, among other things, BEN’s current expectations, assumptions, plans, strategies, and anticipated results. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance.
There are a number of risks, uncertainties and conditions that may cause BEN’s actual results to differ materially from those expressed or implied by these forward-looking statements, including but not limited to the risk factors described in Part I, Item 1A of Risk Factors in BEN’s Annual Report on Form 10-K for the year ended December 31, 2024 and the other risk factors identified from time to time in the BEN’s other filings with the Securities and Exchange Commission (the "SEC"). Filings with the SEC are available on the SEC's website at http://www.sec.gov.

Many of these circumstances are beyond BEN’s ability to control or predict. These forward-looking statements necessarily involve assumptions on BEN’s part. These forward-looking statements may include words such as "believe," "expect," "anticipate," "estimate," "intend," "plan," "project," "should," "may," "will," "might," "could," "would," or similar expressions. All forward-looking statements attributable to the Company or persons acting on BEN’s behalf are expressly qualified in their entirety by the cautionary statements that appear throughout this communication. Furthermore, undue reliance should not be placed on forward-looking statements, which are based on the information currently available to the Company and speak only as of the date they are made. BEN disclaims any intention or obligation to update or revise publicly any forward-looking statements.

Media Contact
Amy Rouyer
P: 503-367-7596
E: amy@beninc.ai

Investor Relations
Susan Xu
P: 778-323-0959
E: sxu@allianceadvisors.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/407d3108-c617-4728-9db4-a99f721f10bf

FAQ

Who is the new interim CEO of Brand Engagement Network (BNAI)?

Janine Grasso has been appointed as interim CEO of Brand Engagement Network, bringing over 20 years of experience from leadership roles at DocuSign, Verizon, and IBM.

What is Brand Engagement Network's (BNAI) financial improvement in Q2 2025?

The company reduced its total liabilities by $4.25 million in the second quarter of 2025.

What acquisition is Brand Engagement Network (BNAI) currently pursuing?

Brand Engagement Network is in the process of acquiring Cataneo, a strategic acquisition expected to enhance the company's platform capabilities and international presence, with completion anticipated in summer 2025.

What is Janine Grasso's background before joining Brand Engagement Network (BNAI)?

Grasso previously served as Head of Global Partner Ecosystem at DocuSign, VP of Business Development at Verizon (2019-2023), and spent 20 years at IBM, last serving as VP of Blockchain Ecosystem.

What happened to Brand Engagement Network's (BNAI) previous CEO?

Previous CEO Paul Chang has stepped down from the CEO position but will remain on the Board of Directors to contribute strategic guidance.