Snoop Dogg resigns from FaZe Clan’s board of directors after just one year

  ❘   Revealed: 2023-04-04T21:21:05

  ❘   Up to date: 2023-04-04T21:21:14

In an SEC submitting for FaZe Clan, the corporate revealed that Calvin “Snoop Dogg” Broadus, Jr. resigned from the corporate’s board of administrators after one 12 months.

FaZe Clan filed its 2022 Q4 financial results on March 30 and gave folks perception into the gaming and way of life model’s enterprise dealings over its first 12 months as a public firm. In an April 4 submitting, the corporate additionally revealed that Snoop Dogg notified FaZe that he’s resigning from the board of administrators “efficient instantly” on March 29.

The SEC submitting additionally says that his resignation was not due to “any disagreement with the corporate or any of its subsidiaries.”

Snoop Dogg was given virtually $2 million in firm inventory together with his board appointment, with another inventory that was divided between his son and supervisor, per a report from Forbes. The report additionally mentioned Snoop Canine’s inventory wouldn’t have vested till subsequent 12 months, which in all probability wouldn’t have been price its unique valuation because the inventory has plummeted since its launch.

Snoop Dogg components methods with FaZe Clan

In FaZe Clan’s letter to shareholders about 2022, getting the California rapper on the board was famous as an “accomplishment” below expertise highlights. FaZe introduced the rapper’s addition to its board, and as a member of its expertise, on March 7, 2022.

Snoop Dogg teased his involvement with Faze in February 2022 by sporting a gold chain with the corporate’s emblem whereas he carried out on the Tremendous Bowl halftime present.