Twin Vee PowerCats Co. (NASDAQ: VEEE) delivered a notice of non-renewal to Chief Executive Officer Joseph Visconti on May 17, 2026, according to a company statement.

The notice applies to Visconti's employment agreement that became effective July 23, 2021. The current agreement will remain in effect through its expiration on July 23, 2026.

The company stated the non-renewal was not due to any disagreement between Visconti and the company on any matter.

After July 23, 2026, Visconti will continue serving as the company's Chief Executive Officer, Interim Chief Financial Officer and President on an at-will basis, the statement said.

Twin Vee PowerCats manufactures power catamaran boats. The information was disclosed in a company press release.