According to BetaKit Canadian Tech & Startup News, Vancouver-based EV Hyperbike has seen a mass exodus as the C-Suite and Board of Directors began bailing out in February. “Damon announced in a short press release on Friday evening (March 6) that its board of directors, including the CEO and CFO, had resigned,” reports BetaKit. “The announcement is the latest in a steady stream of departures over the past month, including CFO Bal Bhullar (who was replaced in an interim capacity by a longtime company contractor) and board member Karan Sodhi.”
The defections started on February 9, 2026, when the CFO was replaced by a contract worker. “Damon has appointed Dino Mariutti, a current contract consultant to the Company, as Interim Chief Financial Officer,” stated the press release. He succeeded Bal Bhullar, who informed the Company of her resignation to pursue new opportunities. Ms. Bhullar joined Damon in February 2024. “We are pleased to welcome Dino as Interim CFO,” said CEO and co-founder Dominique Kwong. “Dino has worked closely with Damon since 2017 and brings deep operational and financial insight to the Company.”
Then on February 23, Damon — a designer and developer of electric motorcycles and other personal mobility products that seek to empower the personal mobility sector through innovation — announced that Karan Sodhi resigned from the Board. “Mr. Sodhi’s resignation was not related to any disagreement with the Company.” And Even Dom Kwong had already changed his social media bio to indicate he was out of Damon as of February.
By March 10th only Rob Chartier, VP of Cloud and Information Systems, and Kurt Risic, VP of Vehicle Dynamics & Integration, Bay Area General Manager, were left on the “Meet The Damon Team” page on the website. Meanwhile BetaKit notes there were already three lawsuits pending, “including one from co-founder Jay Giraud that alleges the company did not pay him an owed bonus and backpay following his departure from the company. The other lawsuits allege Damon did not issue $3.2 million worth of shares to an advisor as promised, and that Damon has allegedly not paid $376,000 of rent for its Vancouver office. These allegations have not yet been proven in court.”
Take the money and run? At one point Damon’s HyperSport and HyperFighter bikes had secured a claimed 3,000 reservation deposits worth more than $100 million CAD. In December 2021, Damon secured $37.9 million in Series B funding as it went from product testing into manufacturing, following the announcement of a planned 110,000-square-foot manufacturing facility to be built in Surrey, British Columbia (which never materialized).
Stay tuned…
