LAKE CHARLES, La. (KPLC) - Waitr announced the appointment of a new Chief Executive Officer on Friday after the company’s prior CEO, Adam Price, resigned.
Price, who was also a Board member, resigned from both positions, the company said in a statement. Price was promoted to the position of CEO in August 2019 after the company’s founder and CEO, Chris Meaux, stepped down.
Carl Grimstad has been named Chief Executive Officer and a member of Waitr’s Board of Directors.
The company has had three CEOs in less than a year.
In October 2019, Waitr’s chief financial officer and two board members resigned.
Waitr’s stock has plunged from above $15 a share in March to just over 37 cents a share on Friday. Nasdaq said the company must get the stock above the dollar mark for at least 10 business days by June or it could be delisted.
Grimstad said he looks forward to working with the team after evaluating every aspect of the company.
“I see significant potential to build upon the solid foundation of the Company’s existing relationships with diners and restaurant partners in terms of Waitr’s product offering and customer service,” Grimstad said. “I look forward to discussing these initiatives in the future interactions with the financial community.”