Energous Announces Leadership Change; Cesar Johnston Is No Longer Serving As President & CEO, Effective Immediately; Board Of Directors Conducting Search For Successor
Portfolio Pulse from Benzinga Newsdesk
Energous Corporation (NASDAQ:WATT) announced a leadership change with Cesar Johnston stepping down as President & CEO, effective immediately. The Board is searching for a successor and has established an Office of the Chair for interim leadership. The company remains focused on its IoT-centric strategy and the adoption of its WattUp wireless power technology. A financial results conference call is scheduled for March 28.
March 26, 2024 | 12:03 pm
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Energous Corporation announces CEO Cesar Johnston's immediate departure, with a search for a new CEO underway. The company focuses on its IoT strategy and wireless power technology.
Leadership changes, especially abrupt ones, can introduce uncertainty and potentially disrupt company operations and strategy execution in the short term. This may lead to negative investor sentiment and impact the stock price negatively. However, the company's continued focus on its strategic IoT-centric initiatives and technology adoption may mitigate some concerns.
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IMPORTANCE 90
RELEVANCE 100