OFA Group has announced a change in its executive leadership structure. On October 1, 2026, the Board of Directors accepted the resignation of Ernest Yeung as Chief Financial Officer, effective September 30, 2026. The resignation was cited as being for personal reasons.
Immediately following Mr. Yeung’s departure, the Board approved the appointment of Eugene M. Johnston as the new Chief Financial Officer. Mr. Johnston, age 62, is a veteran executive with experience in public company finance. He has served as the CFO of 1776 Acquisition Corp since November 2025. Prior to that, he was the CFO of Mangoceuticals, Inc. (Nasdaq: MGRX) from October 2022, where he led the accounting function and the company through its initial public offering in March 2023.
Before his tenure in the public sector, Mr. Johnston served as a Manager at L&L CPAs, PA and as an Audit Manager at Greentree Financial Group, Inc. from 2017 to 2026. Earlier in his career, he was the owner of Johnston Consulting Group and served as CEO and CFO of Peoplesway.com, Inc.
The Company has entered into an Executive Employment Agreement with Mr. Johnston, effective October 1, 2026. The agreement has an initial term of two years, extendable for one year upon mutual consent. Under the terms of the agreement, Mr. Johnston is entitled to an annual base salary of $150,000. Beginning with the fiscal year ending March 31, 2027, he is eligible to receive an annual cash bonus ranging from 0% to 20% of his Base Salary.
Additionally, Mr. Johnston will receive an initial equity grant of an option to purchase 60,000 Class A ordinary shares of the Company. He is also eligible for an annual option to purchase up to 50,000 Class A ordinary shares at the discretion of the Compensation Committee. The agreement includes provisions for severance benefits, confidentiality, intellectual property rights, and non-solicit clauses, as well as reimbursement for business-related expenses.
