- Volta Inc VLTA said that Founder Scott Mercer has resigned as Chief Executive Officer (CEO).
- Mercer will serve the transitional period and will be an advisor to the Board through March 31, 2023, and assist the Board in a search for a new CEO.
- He has also resigned from the Board, effective immediately.
- The Board has appointed independent directors Vince Cubbage and Kathy Savitt as the Board's Co-Chairs.
- The company plans to keep the CEO, and Board Chair roles separate going forward.
- In addition, Co-Founder and President Chris Wendel has also resigned from the company and the Board, effective immediately.
- Price Action: VLTA shares are trading lower by 18.2% at $3.38 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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