Business broadcasting network CNBC reported today that San Francisco based freight technology start-up Flexport has fired its CFO. In addition to the CFO, the company’s human resource executive reportedly resigned.
These two senior executives departures come three weeks after the forced resignation of former Amazon senior executive Dave Clark from the role of CEO.
The CNBC report, citing informed sources, indicates that CFO Kenny Wagers last day will be this Friday. The company’s existing head of finance is reportedly expected to be appointed CFO.
Additionally, the company confirmed to CNBC that Jennifer Boden, the company’s Vice President of People, is leaving as well.
These added executive moves come as founder Ryan Peterson has once again assumed leadership and direction setting for the start-up. A reportedly new role being established will be Senior Vice President, Head of Restructuring and CEO Initiatives will focus on business restructuring. In January, this start-up released upwards of 20 percent of the workforce, amounting to 600 people, due to freight recession conditions that continue to occur.
The report disclosed some additional information, namely: “Prior to the Clark saga, executives had been working on an IPO timeline and were targeting a 2025 debut, according to an internal document viewed by CNBC. Now the company is in cost-cutting mode, and is expected to announce more layoffs in the coming weeks, the people said.”