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Posted 03 August, 2022

Weave Communications, Inc. appointed Mr. White as new CEO

NYSE:WEAV appointed new Chief Executive Officer Mr. White in a 8-K filed on 03 August, 2022.


  Mr. White, 59, has been appointed to serve as the Company's interim Chief Executive Officer, effective September 2, 2022.  

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Overview of Weave Communications, Inc.
Technology • Software
Weave Communications, Inc. develops a customer communication platform for service-based businesses. It offers voice, short message service, email and marketing services to dental, optometry, medical, and veterinary offices. The company was founded by Clint Berry, Brandon Rodman, and Jared Rodman in September 2008 and is headquartered in Lehi, UT.
Market Cap
$901M
View Company Details
Weave Communications, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On August 03, 2022, Weave Communications, Inc. (the "Company") announced that Roy Banks, the Company's Chief Executive Officer ("CEO") and a member of the Company's Board of Directors, is stepping down as CEO for personal reasons, effective August 15, 2022, and has agreed to provide transition services thereafter until September 2, 2022, at which time he will resign from the Board. The Company has commenced a search for his successor and will make an announcement when a successor has been appointed. The Company also announced that, effective August 15, 2022, Brett White will serve as interim Chief Executive Officer until a successor to Mr. Banks has been appointed.

In addition to the payments required to be made to Mr. Banks under his employment agreement with the Company, dated October 29, 2021, the Company agreed to accelerate the vesting of 130,435 restricted stock units ("RSUs"), or 25%, of the unvested RSUs granted to Mr. Banks in March 2022. 

Mr. White, 59, has been appointed to serve as the Company's interim Chief Executive Officer, effective September 2, 2022. Since July 2020, he has served as a member of the Company's Board of Directors. Mr. White served as the Chief Financial Officer for Mindbody, Inc. from July 2013 to December 2021 and also as its Chief Operating Officer from 2016 to 2020. Mr. White also serves as a member of the board of directors of Inspired Flight Technologies since January 2022 and as a member of the Dean Advisory Council and has served as an Entrepreneur in Residence for the Orfalea College of Business, California Polytechnic State University since April 2018. Mr. White holds a B.A. degree in Business Economics with honors and an Accounting emphasis from the University of California, Santa Barbara.

The impact of Mr. White's new position on his existing compensation arrangement has not yet been determined by the Company.

There are no family relationships between Mr. White and any director or executive officer of the Company, and Mr. White does not have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

The foregoing description of the Company's separation agreement with Mr. Banks is qualified in its entirety by reference to the to the text of the separation agreement, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022.