OTRK - Ontrak President and COO Curt Medeiros resigns

Ontrak ([[OTRK]] -5.4%) shares have dropped so far today after the company announced the resignation of its President and Chief Operating Officer Curt Medeiros with effect from June 04, 2021. On April 07, Mr. Medeiros has announced his departure to pursue other opportunities.“Mr. Medeiros will no longer be performing day-to-day operational management duties beginning on April 12, 2021,” the company said in a regulatory filing adding that he will work with CEO Jonathan Mayhew during the transition.In mid-March, Ontrak announced the appointment of former CVS executive Mr. Mayhew as its new CEO with effect from April 12, 2021. Before that, the stock rose sharply in reaction to consensus beating 2021 guidance.However, with the loss of a major customer, Ontrak shares have lost ~46.0% in the year so far.

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Ontrak President and COO Curt Medeiros resigns