New CTO joins Elvictor Group (OTC: ELVG) to lead AI strategy
Rhea-AI Filing Summary
Elvictor Group, Inc. has appointed 26‑year‑old technologist Theocharis Vasilakis as Chief Technology Officer, effective June 11, 2026. He will report to the CEO and lead technology strategy, digital transformation, AI and machine learning infrastructure, and software engineering across the company’s global maritime crew management and inspection services.
The company is redesigning its technology infrastructure and building an AI‑enabled crew management ecosystem to improve efficiency, scalability, and digital services. This initiative began in February 2026, with initial platform deployment targeted for Q4 2026 and broader rollout anticipated in 2027. Compensation terms for the new CTO are not yet established.
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8-K Event Classification
Key Figures
Key Terms
retrieval-augmented generation (RAG) technical
agentic systems technical
crew management ecosystem financial
Regulation S-K regulatory
forward-looking statements regulatory
emerging growth company regulatory
UNITED STATES
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Section 5 – Corporate Governance and Management
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 11, 2026, Elvictor Group, Inc. (the "Company") announced the appointment of Mr. Theocharis Vasilakis as Chief Technology Officer ("CTO") of the Company, effective June 11, 2026. Mr. Vasilakis will report directly to the Chief Executive Officer and will be responsible for overseeing the Company’s technology strategy, digital transformation initiatives, artificial intelligence and machine learning infrastructure, software engineering operations, and the advancement of the Company’s proprietary technology platforms across its global marine and inspection services operations.
Background and Qualifications of Mr. Theocharis Vasilakis
Mr. Theocharis Vasilakis, age 26, brings a multidisciplinary background spanning artificial intelligence engineering, full-stack software development, and technology entrepreneurship to his role as Chief Technology Officer of Elvictor Group, Inc. Mr. Vasilakis earned a degree in Electrical Engineering and Computer Science from the Technical University of Crete (TUC) in 2023, where he focused on machine learning, big data, and advanced systems architecture, developing strong analytical and problem-solving capabilities grounded in mathematics, algorithms, and system design principles.
Since June 2025, Mr. Vasilakis has served as a co-founder and AI Engineer of Hermetica, an AI-native, fully agentic board of directors intelligence platform focused on delivering institutional-grade intelligence solutions to family offices. Hermetica was selected as a top-five finalist in the Panathenea 2025 competition and received sponsorship from OpenAI in collaboration with the Greek Government and Endeavor. In this capacity, Mr. Vasilakis has gained deep expertise in cutting-edge agentic retrieval-augmented generation (RAG) systems, advanced retrieval engines, and agent memory architecture. Concurrently, since March 2025, Mr. Vasilakis has served as a Software Engineer at European Dynamics S.A., a recognized leader in international digital transformation projects of governmental scope, where he has served as a full-stack engineer with autonomous responsibility for large-scale, high-security governance projects. From September 2022 to February 2025, Mr. Vasilakis founded and operated Spartan Health, a direct-to-consumer e-commerce brand targeting the United States market, through which he grew the business to over 5,000 customers and generated in excess of €500,000 in gross revenue within two years, demonstrating his ability to independently build, scale, and manage technology-driven commercial operations. From January 2022 to July 2022, Mr. Vasilakis served as a Full-Stack Software Engineer at OpenBet Hellas S.A. (S.G. Digital), a global leader in lottery and sports betting technology, specializing in React and Redux-based front-end development. From September 2020 to December 2021, Mr. Vasilakis served as Professional Amazon Seller Account Manager at FOODSNGOODS O.E., an e-commerce company engaged in the export of traditional Greek products to North American markets. Under his management, the company’s Amazon account gross income increased by 35%, reaching approximately €450,000 per year, while average profit margin per sale improved from 10% to 20%, resulting in a 2.7x improvement in bottom-line revenue.
Mr. Vasilakis’s technical competencies include the design and deployment of advanced agentic systems and RAG pipelines using LangChain and custom infrastructure; full-stack development in Spring Boot, JavaScript, Python, and Go; machine learning model training utilizing PyTorch; and proficiency in containerization (Docker), orchestration (Kubernetes), and CI/CD pipeline management. He has invested over 1,000 hours in the practical application of AI coding agents, including Claude Code and OpenAI Codex, and maintains a deep understanding of their operational capabilities and limitations. Mr. Vasilakis also served as the sole developer of "Track on Build," a full-featured construction project tracking platform with dual intra-company and customer-facing capabilities, developed for a major Greek construction company and brought to production within four months. The application was deployed across iOS, Android, and web, and was built using Flutter and Firebase.
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The Company is not aware of any family relationship between Mr. Vasilakis and any director or executive officer of the Company, nor of any transaction between Mr. Vasilakis and the Company that would require disclosure under Item 404(a) of Regulation S-K. The compensation arrangements with Mr. Vasilakis have not yet been established.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| 99.1 | Press Release, dated June 11, 2026, issued by Elvictor Group, Inc., announcing the appointment of Mr. Theocharis Vasilakis as Chief Technology Officer. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ELVICTOR GROUP, INC. | ||
| Date: June 11, 2026 | By: | /s/ Konstantinos Galanakis |
| Konstantinos Galanakis, Chief Executive & Financial Officer | ||
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Exhibit 99.1
Elvictor Advances AI Transformation with Appointment of Theocharis Vasilakis as Chief Technology Officer
New CTO to oversee development of Elvictor’s AI-powered crew management ecosystem and broader digital infrastructure modernization initiative.
Highlights:
| ● | Strengthens executive leadership with the appointment of Theocharis Vasilakis as Chief Technology Officer. | |
| ● | Accelerating planned investments in artificial intelligence, automation, and digital infrastructure. | |
| ● | AI-enabled crew management platform development underway, with MVP targeted for Q4 2026. |
ATTIKI, Greece–June 11, 2026. Elvictor Group Inc. (OTCID: ELVG) (“Elvictor” or the “Company”), a provider of maritime crew management and recruitment services, today announced the appointment of Theocharis Vasilakis as Chief Technology Officer, reinforcing the Company’s commitment to a multi-year technology transformation focused on artificial intelligence, automation, and next-generation crew management solutions.
Mr. Vasilakis joins Elvictor as the Company advances the redesign of its technology infrastructure and the development of an AI-enabled crew management ecosystem intended to improve operational efficiency, enhance scalability, and support the creation of new digital services for the maritime industry. He has experience in artificial intelligence, software engineering, and enterprise technology development. He is a co-founder of Hermetica, an AI-native intelligence platform, and has held software engineering roles with European Dynamics and OpenBet Hellas. His background includes machine learning, cloud architecture, data systems, and AI-driven application development.
The Company’s technology initiative is focused on modernizing certain crew management processes and developing automation capabilities intended to support operational workflows across its global operations. Development of the initiative commenced in February 2026, with initial platform deployment currently targeted for Q4 2026 and broader deployment anticipated in 2027. The initiative forms part of the Company’s ongoing efforts to evaluate and implement technology solutions that may support its operational and service capabilities.
Konstantinos S. Galanakis, Chief Executive Officer of Elvictor Group, Inc., commented “Mr. Vasilakis joins Elvictor at a pivotal stage in our Company’s development. The investments we are making in technology, automation, and artificial intelligence we believe will meaningfully improve the delivery and management of crew management services. His expertise in AI systems, enterprise software, and technology architecture strengthens our ability to execute on that vision and positions Elvictor for continued execution of our technology plans.”
Theocharis Vasilakis commented:
“What attracted me to Elvictor was the scale of the opportunity. The maritime industry remains underserved by modern AI-enabled solutions, and Elvictor is committed toward building a technology platform designed for the future of crewing. I look forward to helping transform that vision into products and services for customers, seafarers, and employees.”
About Elvictor Group, Inc.
Elvictor Group, Inc. (OTCID: ELVG) is a provider of maritime crew management and recruitment services that is developing an AI-enabled platform intended to enhance operational efficiency and reduce costs. The Company’s strategic focus includes AI-driven workforce solutions, M&A-driven expansion, and cost-efficient vessel ownership. For more information, visit: https://www.elvictorgroup.com, and follow us on LinkedIn.
Investor and Media Contact:
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Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, the “forward-looking statements”). All statements other than statements of historical fact contained in this press release are forward-looking statements. Forward-looking statements are generally identified by use of words such as “anticipates,” “believes,” “continues,” “could,” “estimate,” “expects,” “intends,” “may,” “plans,” “potential,” “should,” “will,” “would,” and similar expressions, although not all forward-looking statements contain these identifying words.
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Forward-looking statements in this press release include, without limitation, statements regarding: the expected completion of the Company’s AI-enabled platform by the end of 2026; anticipated reductions in operating costs beginning in the third quarter of 2026 as a result of planned staff retirements; the anticipated launch of a new corporate website; the ability to scale crew management operations without a proportional increase in costs or headcount; the outcome of ongoing discussions with prospective clients in the tanker and bulk carrier segments; and the Company’s general expectations regarding its business strategy and operations.
These forward-looking statements are based on management’s current expectations and assumptions as of the date of this press release. Such expectations and assumptions involve known and unknown risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such statements. Factors that could cause actual results to differ materially from those anticipated include, but are not limited to:
| ● | the Company’s ability to develop and deploy its technology platform on the expected timeline and within anticipated cost parameters; | |
| ● | the Company’s ability to attract and retain clients and to convert prospective client discussions into executed contracts; | |
| ● | changes in demand for maritime crew management services and conditions in the global shipping industry; | |
| ● | the Company’s ability to recruit, train, and retain qualified personnel, including its technical team; | |
| ● | the impact of planned staff retirements on operations and service quality; | |
| ● | competitive pressures in the maritime services industry; | |
| ● | changes in laws and regulations applicable to maritime operations, crew management, or the Company’s business generally; | |
| ● | general economic and geopolitical conditions and their impact on the shipping industry; and | |
| ● | other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. |
The foregoing list of factors is not exhaustive. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statement to reflect new information, future events, or circumstances after the date of this press release, except as required by applicable securities laws.
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