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Benzinga
Benzinga
Business
Shivani Kumaresan

Read Why Volta Shares Are Plunging Today

Board VLTA NYSE Volta Inc
  • Volta Inc (NYSE: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.
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