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Waitr CEO resigns, new executive named

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Posted at 4:20 PM, Jan 03, 2020

Waitr's CEO has resigned from his positions with the company. A new CEO has been named.

According to a release, Waitr Holdings Inc. announced Friday that Adam Price, the Company’s prior Chief Executive Officer and member of the Board, resigned from both positions. Carl Grimstad has been named Chief Executive Officer, and a member of Waitr’s Board of Directors, effectively immediately.

“We are excited to welcome Carl to the Waitr organization. We believe that the combination of his extensive operational, executive and leadership experience, including as a successful president of a public company, as well as his career focus of providing small and medium-sized merchants payment and technology solutions, will create substantial shareholder value,” said Chris Meaux, Chairman of the Board.

Price joined Waitr in February of 2019 as Chief Logistics Officer prior to being named the Company’s Chief Operations Officer. He was named CEO in August 2019 when then CEO Chris Meaux, who is also the company’s founder stepped down from the position.

Grimstad, who is currently the chief manager of C. Grimstad Associates, LLC, says he is looking forward to working with the Waitr team.

“I look forward to working with the many talented team members at Waitr as we continue to reshape the Company,” said Grimstad. “Over the past few weeks I, along with the Company’s Board, advisors and key stakeholders, have been evaluating every aspect of Waitr. This process has given me confidence in the future of Waitr. I see significant potential to build upon the solid foundation of the Company’s existing relationships with diners and restaurant partners in terms of Waitr’s product offering and customer service, and I look forward to discussing these initiatives in future interactions with the financial community.”

Grimstad is currently the chief manager of C. Grimstad Associates, LLC, a family private investment entity formed in 2006, and the managing partner of GS Capital, LLC, a family private investment company formed in 1995. In 1999, he co-founded iPayment Inc. (“iPayment”), a provider of credit and debit card payment processing services to small and medium-sized merchants across the United States and Canada. He acted as the president of iPayment until 2011, when he became the Chairman and Chief Executive Officer of the company until 2016.

Under his leadership, iPayment closed an initial public offering in 2003 and then went private in 2006. Mr. Grimstad serves on the board of directors of Beauty Tap Inc. and Kard Financial Inc. He graduated with a B.A. in Economics from Boston University in 1989.