Two members of Waitr’s board of directors and the company’s Chief Financial Officer Jeff Yurecko submitted resignations last week, leaving the company no longer in compliance with the requirements for its NASDAQ listing.
Susan Collyns submitted her resignation as director of the board on Oct. 10, effective Oct. 11, and Scott Fletcher submitted his resignation Oct. 11, according to SEC filings.
CFO Jeff Yurecko submitted his resignation Oct. 9, effective Nov. 1. Yurecko has served as CFO since April. Previously, he was the CFO of Bite Squad, from 2016 through its acquisition by Waitr earlier this year.
The three resignations were “not related to a disagreement with the Company over any of its operations, policies or practices,” the filing states.
It’s the resignations of Collyns and Fletcher that made the company noncompliant with a NASDAQ listing rule.
“The Company is committed to satisfying the Nasdaq Listing Rules relating to the composition of its Board, Audit Committee and Compensation Committee and is actively searching for qualified candidates to join its Board,” writes Damon Schramm, chief legal officer of Waitr, in the filing.
The changes are the latest for the Lafayette-based company, which has had a busy year. In August, the company announced founder Chris Meaux was stepping down as CEO to be replaced by Adam Price, the former chief operating officer. Following the announcement, the company’s stock, which has been dropping from its March peak of $14.15, declined further, from $3.76 to $1.89. As of this afternoon’s deadline, the stock was trading at $1.11.
