![]() As of now, Palikaras has issued no statement about his seemingly abrupt departure. ![]() Harding also noted that the company is grateful to Palikaras for his contributions, stating that “his leadership has been instrumental” in building the foundation of Meta Materials. In his new role, Jim will be responsible for overseeing the strategic direction of the company and accelerating its commercial production.” He brings a wealth of leadership experience and a proven track record of driving high revenue growth. “On behalf of the Board of Directors, it is my pleasure to welcome Jim Fusaro as CEO of Meta Materials. Jack Harding, Meta Materials’ Chair of the Board of Directors, said the following about Fusaro’s appointment: The executive holds degrees from Arizona State University and Rensselaer Polytechnic Institute as well. Shares have also shed more than 80% year-to-date (YTD).įusaro’s resumé includes names like Nanostone Water, Avnet (NASDAQ: AVT) and Honeywell International (NASDAQ: HON). As of this writing, MMAT is down more than 6% for the day. Of course, news of a new CEO can often give a stock a slight bump, but in this case, the opposite is true. MMAT stock has risen and fallen consistently throughout the past six months without demonstrating any actual growth. To say that it has been a volatile year for Meta Materials would be an understatement. Will the hiring of Fusaro as CEO end up being a boon for investors in Meta Materials? Let’s take a closer look. This raises questions regarding the stability of Meta Materials, a firm that has already been linked to controversy in the recent past. Indeed, MMAT stock has been struggling since markets opened today. Meta Materials also confirmed that the former CEO has left the company entirely.įusaro is an industry veteran with “35 years of experience in solar, semiconductor, advanced materials, and aerospace.” His appointment should be good news for investors, but so far the news hasn’t helped boost shares. In a statement released this morning, the functional materials company announced that Jim Fusaro is replacing George Palikaras as CEO, effective immediately. After months of struggling, Meta Materials (NASDAQ: MMAT) is making a change at the leadership level.
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