Digital World Acquisition has named Eric Swider as CEO, handing the interim boss reins of the blank-check company that is looking to complete its planned merger with Donald Trump’s media and tech company.
The move comes nearly four months after the SPAC ousted CEO Patrick Orlando, saying that a new management team was needed to tackle “unprecedented headwinds,” Reuters reports.
The deal was announced in October 2021 and has come under federal regulatory scrutiny, which both Trump and the SPAC have blamed for the delay in completing the merger.
The SPAC announced last week that it has reached a tentative settlement with the SEC. Terms call for Digital World to pay a civil fine of $18 million. Read more.
