- Push-out Score determined
- After about six years in the position
- Adam Price taking over
- Meaux will remain as Chairman at Waitr
- Meaux said 75 words
(exechange) — Lake Charles, Louisiana, August 8, 2019 — Chris Meaux, chief executive of Waitr, leaves his position. As announced by Waitr Holdings Inc. in a news release and in a regulatory filing published on Thursday, August 8, 2019, Christopher (Chris) Meaux leaves his post as Chief Executive Officer at the restaurant-delivery company after about six years in the role, effective immediately.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.3 years, according to data compiled by exechange.
Chris Meaux’s duties as CEO will be taken over by Adam Price, most recently Chief Operations Officer of Waitr Holdings Inc.
“Successfully lead Waitr into its next phase of growth”
A reason for Chris Meaux’s departure from the CEO post was not explicitly provided. Chris Meaux said: “Over the past few months Adam has demonstrated that he has the experience, vision and leadership skills to successfully lead Waitr into its next phase of growth.”
Meaux will remain as Chairman at Waitr
“Chris Meaux, the Company’s founder and Chief Executive Officer, will remain as the Company’s Chairman of the Board,” Waitr said.
Waitr said: “On August 8, 2019, Christopher Meaux resigned as the Chief Executive Officer of the Company, effective August 8, 2019.”
“Not related to a disagreement”
“Mr. Meaux’s decision to resign was not related to a disagreement with the Company over any of its operations, policies or practices,” Waitr said.
Share price decline
The announcement follows a decline in Waitr Holdings Inc.’s share price of 70% since April 2019.
In the position of CEO since 2013
Chris Meaux became CEO of the Company in August 2013.
Christopher Meaux has been the Company’s Chief Executive Officer, a member of the Company’s Board, and is the Company’s founder, since 2013.
Meaux also served as the Company’s President and Secretary from 2013 until the Closing.
Meaux was selected as a member of the 2017 “Silicon Bayou 100.”
He is also the recipient of the 2017 Jr. Achievement Startup Business of the Year and a finalist for the 2017 Ernst & Young Entrepreneur of the Year Award.
Prior to founding the Company, Meaux was an entrepreneur in multiple ventures in the technology and restaurant industries including full-service and fast casual restaurants.
Prior to entrepreneurship, Meaux had a 23-year career in technology serving in various management positions with McAfee Software, Optical Coating Labs, Inc. (“OCLI”), and Hyundai Electronics.
At McAfee Software Meaux oversaw the European retail and distribution software business in Bracknell, U.K. Prior to that, Meaux was a regional manager for OCLI, a computer accessories manufacturer with sales leadership responsibilities for an 8-state region.
Before OCLI, Meaux began his technology career as a territory manager for Hyundai Electronics computer division.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Waitr and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2019 ($).