Bobby Yazdani has stepped down as chairman, CEO and board member of Saba. In connection with the change in leadership,
Shawn Farshchi, Saba’s executive vice president and chief operating officer will serve as interim CEO. In addition, Saba’s Board of Directors has separated the roles of chairman of the board and CEO and appointed independent director Bill Russell to the position of non-executive chairman. The Board has undertaken a search for a permanent CEO. It also is dissolving the role of lead independent director.