Everbridge Plunges On CEO's Resignation

(RTTNews) - Shares of Everbridge, Inc. (EVBG) are falling more than 46% on Friday morning.

The company, that provides critical event management and national public warning software solutions had said on Thursday that its CEO, David Meredith intends to resign.

The board, though accepted his resignation, said that it is not related to the company's financial condition or internal controls or disclosure controls.

Patrick Brickley, CFO, and Vernon Irvin, Executive Vice President and Chief Revenue Officer will partner as Co-CEOs.

EVBG touched a new low of $61.20 this morning, before edging up to $61.63.