Paul Vassilakos Appointed Executive Chairman and CEO of Eightco Holdings

Technology firm Eightco Holdings Inc. (OCTO) has appointed Paul Vassilakos to lead the organization as its Executive Chairman and Chief Executive Officer. This strategic leadership appointment marks a significant milestone for the company as it navigates the evolving e-commerce landscape. Vassilakos brings extensive executive experience, having previously held Board, CEO, and CFO positions across multiple publicly listed companies throughout his career.

Leadership Structure and Board Changes

The transition reshapes Eightco’s governance structure with several key changes. Kevin O’Donnell, who served as Executive Chairman since October 2021 and held the interim CEO role for the preceding month, will maintain his position as a Board member. In contrast, Brian McFadden, a longtime Board member and former Chief Executive Officer, has stepped down from the Board effective immediately. These adjustments reflect the company’s strategic repositioning under new executive direction.

Forever 8 Fund and Vassilakos’s Track Record

Paul Vassilakos co-founded Forever 8 Fund, LLC—now Eightco’s largest subsidiary—in July 2020 and has served as Managing Director since inception. Beyond his Forever 8 involvement, Vassilakos established Petrina Advisors, Inc., a privately held advisory and consulting firm. His dual background positions him uniquely to guide Eightco’s operational and strategic priorities.

Strategic Vision for E-commerce Consolidation

Reflecting on the appointment, Vassilakos emphasized the timing and opportunity ahead. “As the e-commerce sector undergoes consolidation and technological advancement, Forever 8, coupled with Eightco’s commitment to cost optimization at the parent level, stands ready to deliver efficient and responsive inventory financing solutions to e-commerce merchants,” he stated. The leadership believes this positioning will empower sellers to enhance profitability while adapting to market shifts.

Financial Restructuring to Support Growth

To strengthen the company’s financial foundation, the former Forever 8 owners—including Vassilakos—have agreed to amend the debt structure associated with the October 2022 acquisition. The original notes totaled $27.5 million in principal. Under the new arrangement, approximately $3.0 million in accumulated interest has been forgiven, and roughly $1.1 million in accrued interest will be converted into 1.4 million shares of Eightco common stock. Additionally, all remaining interest payments and principal obligations have been deferred until October 30, 2024, providing the company with critical liquidity to execute its strategic initiatives under Paul Vassilakos’s leadership.