Akazoo S.A. announced that its Board of Directors has appointed Michael Knott as the Company's interim Chief Executive Officer, effective immediately. This follows the decision by the Board to terminate Apostolos N. Zervos as Chief Executive Officer for cause. The Board has also requested that Mr. Zervos resign as a member of the Board.

The Board's decision to terminate Mr. Zervos was made following a recommendation from the Special Committee in light of these findings. The appointment of Mr. Knott will help facilitate the continued operations of the Company while the Special Committee completes its work. Michael Knott is a Senior Managing Director in the Corporate Finance division at FTI Consulting.

Mr. Knott leads the Telecom, Media and Technology (TMT) practice in Europe, the Middle East and Africa (EMEA). He is an experienced telecom, media and technology advisor with 30 years of experience in transaction advisory, strategy and business consulting, performance improvement and business transformation.