Corvex Shakes up Board, Adds Co-ceo in Pivot to AI Infrastructure

Dow Jones07-02

Corvex shareholders voted to add three board members and the company brought in a new co-chief executive as it pivots toward the artificial-intelligence infrastructure business.

The company said that Seth Demsey had been appointed co-CEO alongside co-founder Jay Crystal, effective after the shareholder meeting. Chance Moreland has also joined as chief financial officer of Corvex AI, the company said Wednesday.

At the meeting, shareholders elected Crystal to the board, alongside Nicholas Donofrio, a former executive at International Business Machines, and Patrick Fleury, the finance chief of TeraWulf. Shareholders approved the issuance of more than 20% of the company's shares to convert Series C and D Preferred Stock into common stock.

The shakeup comes after Corvex completed its disposition of legacy assets, including the health technology products Wellness Ring and Medical Ring, from its predecessor company Movano. The assets were disposed to a lender to satisfy certain secured indebtedness, the company said.

Corvex said it has been operating its healthcare division at reduced capacity and exploring strategic opportunities for the business.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

July 01, 2026 16:57 ET (20:57 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2648291655?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-07-02 04:57","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2648291655","market":"other","top_or_hot":-1,"title":"Corvex Shakes up Board, Adds Co-ceo in Pivot to AI Infrastructure","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Corvex shareholders voted to add three board members and the company brought in a new co-chief executive as it pivots toward the artificial-intelligence infrastructure business. \n</p>\n<p>\n  The company said that Seth Demsey had been appointed co-CEO alongside co-founder Jay Crystal, effective after the shareholder meeting. Chance Moreland has also joined as chief financial officer of Corvex AI, the company said Wednesday. \n</p>\n<p>\n  At the meeting, shareholders elected Crystal to the board, alongside Nicholas Donofrio, a former executive at International Business Machines, and Patrick Fleury, the finance chief of TeraWulf. Shareholders approved the issuance of more than 20% of the company's shares to convert Series C and D Preferred Stock into common stock. \n</p>\n<p>\n  The shakeup comes after Corvex completed its disposition of legacy assets, including the health technology products Wellness Ring and Medical Ring, from its predecessor company Movano. The assets were disposed to a lender to satisfy certain secured indebtedness, the company said. \n</p>\n<p>\n  Corvex said it has been operating its healthcare division at reduced capacity and exploring strategic opportunities for the business. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Elias Schisgall at elias.schisgall@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 01, 2026 16:57 ET (20:57 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Corvex Shakes up Board, Adds Co-ceo in Pivot to AI Infrastructure</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCorvex Shakes up Board, Adds Co-ceo in Pivot to AI Infrastructure\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-07-02 04:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Corvex shareholders voted to add three board members and the company brought in a new co-chief executive as it pivots toward the artificial-intelligence infrastructure business. \n</p>\n<p>\n  The company said that Seth Demsey had been appointed co-CEO alongside co-founder Jay Crystal, effective after the shareholder meeting. Chance Moreland has also joined as chief financial officer of Corvex AI, the company said Wednesday. \n</p>\n<p>\n  At the meeting, shareholders elected Crystal to the board, alongside Nicholas Donofrio, a former executive at International Business Machines, and Patrick Fleury, the finance chief of TeraWulf. Shareholders approved the issuance of more than 20% of the company's shares to convert Series C and D Preferred Stock into common stock. \n</p>\n<p>\n  The shakeup comes after Corvex completed its disposition of legacy assets, including the health technology products Wellness Ring and Medical Ring, from its predecessor company Movano. The assets were disposed to a lender to satisfy certain secured indebtedness, the company said. \n</p>\n<p>\n  Corvex said it has been operating its healthcare division at reduced capacity and exploring strategic opportunities for the business. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Elias Schisgall at elias.schisgall@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 01, 2026 16:57 ET (20:57 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AGIX","symbol_name":"通用人工智能 ETF-AGIX","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2648291655","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2648291655","pubTimestamp":1782939420,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Corvex shareholders voted to add three board members and the company brought in a new co-chief executive as it pivots toward the artificial-intelligence infrastructure business.The company said that Seth Demsey had been appointed co-CEO alongside co-founder Jay Crystal, effective after the shareholder meeting. Chance Moreland has also joined as chief financial officer of Corvex AI, the company said Wednesday.At the meeting, shareholders elected Crystal to the board, alongside Nicholas Donofrio, a former executive at International Business Machines, and Patrick Fleury, the finance chief of TeraWulf. Shareholders approved the issuance of more than 20% of the company's shares to convert Series C and D Preferred Stock into common stock.The shakeup comes after Corvex completed its disposition of legacy assets, including the health technology products Wellness Ring and Medical Ring, from its predecessor company Movano. The assets were disposed to a lender to satisfy certain secured indebtedn","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"AGIX":"通用人工智能 ETF-AGIX","AIPO":"Defiance AI and Power Infrastructure ETF","ARTY":"ISHARES FUTURE AI & TECH ETF","MOVE":"Corvex Inc","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","BK4170":"电脑硬件、储存设备及电脑周边"},"translate_title":"Corvex改组董事会，增加联合首席执行官，专注于人工智能基础设施","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AGIX":1.5,"ARTY":1.5,"AIPO":1.5,"CHAT":1.5,"MOVE":0.9},"content_text":"Corvex shareholders voted to add three board members and the company brought in a new co-chief executive as it pivots toward the artificial-intelligence infrastructure business. \n\n\n  The company said that Seth Demsey had been appointed co-CEO alongside co-founder Jay Crystal, effective after the shareholder meeting. Chance Moreland has also joined as chief financial officer of Corvex AI, the company said Wednesday. \n\n\n  At the meeting, shareholders elected Crystal to the board, alongside Nicholas Donofrio, a former executive at International Business Machines, and Patrick Fleury, the finance chief of TeraWulf. Shareholders approved the issuance of more than 20% of the company's shares to convert Series C and D Preferred Stock into common stock. \n\n\n  The shakeup comes after Corvex completed its disposition of legacy assets, including the health technology products Wellness Ring and Medical Ring, from its predecessor company Movano. The assets were disposed to a lender to satisfy certain secured indebtedness, the company said. \n\n\n  Corvex said it has been operating its healthcare division at reduced capacity and exploring strategic opportunities for the business. \n\n\n \n\n\n  Write to Elias Schisgall at elias.schisgall@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 01, 2026 16:57 ET (20:57 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2648291655","isCrawlerRequest":true}