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Posted 08 February, 2024

Presto Automation Inc. appointed new CEO

CEO Change detected for ticker Nasdaq:PRST in a 8-K filed on 08 February, 2024.


  On February 4, 2024, Xavier Casanova provided notice to the board of directors of the Company of his decision to resign as Chief Executive Officer ("CEO") of the Company and all other positions held at the Company, effective immediately.  

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Overview of Presto Automation Inc.
Industrial Goods • Precision Products
Presto Automation, Inc. engages in the provision of enterprise-grade artificial intelligence (AI) and solutions to the restaurant industry. It focuses on its Presto Voice AI. The company was founded by Rajat Suri in 2008 and is headquartered in San Carlos, CA.
Market Cap
$23.4M
View Company Details
Presto Automation 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 February 4, 2024, Xavier Casanova provided notice to the board of directors of the Company of his decision to resign as Chief Executive Officer ("CEO") of the Company and all other positions held at the Company, effective immediately. Pursuant to the Forbearance Agreement and Fourth Amendment to the Credit Agreement dated January 22, 2024 by and among the Company and Metropolitan Partners Group Administration, LLC, as administrative, agent and collateral agent (the "Agent"), the Company is required to appoint a chief restructuring officer or person with significant restructuring, turnaround and insolvency experience reasonably acceptable to the Agent by no later than February 16, 2024. The Company is in the process of identifying suitable candidates to serve as CEO.