Cutera Inc. CUTR, a maker of devices used for skincare and body-sculpting, on Thursday said it would hold a special shareholder meeting on June 9 to weigh whether to remove five directors — the latest in the drama over the company’s CEO succession plans. The proposals on those removals, following concerns the directors were acting too slowly on those plans, were offered by two higher-ups that the company fired on Wednesday — executive chair Daniel Plants and chief executive David Mowry. Their dismissals came amid allegations from Cutera’s management that the two waged “an apparent campaign to seize control of the Company,” following its decision to seek an external candidate for the top spot. That campaign, Cutera alleged, involved the disclosure of “highly confidential internal deliberations of the Board in direct violation of their employment agreements.” Cutera said that as it began exploring options for a new chief executive last year, Plants called for Mowry’s “immediate termination” and indicated he wanted to succeed Mowry as CEO. Plants had made a similar move in 2021, the company alleged. Shares fell 2.2% after hours.
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