Bloomberg Law
March 28, 2022, 10:04 PM

Volta Plunges After Founders of EV-Charging Company Resign (1)

David R. Baker
David R. Baker
Bloomberg News

Volta Inc. dropped sharply after the electric-vehicle charging company announced the abrupt departures of two top executives, both of them founders of the firm.

The resignations of Chief Executive Officer Scott Mercer and President Chris Wendel came a week after the San Francisco-based firm postponed reporting its latest quarterly earnings, although it was unclear if there was any connection between the events. Mercer will continue in the CEO role for a transition period as the company’s board searches for a replacement.

A company spokeswoman didn’t immediately return a message seeking comment.

Volta fell 18% to $3.37 on Monday, after hitting ...

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