David Hall, the founder of leading lidar manufacturer Velodyne, is going to war with the SPAC that acquired his company, The Verge reports. In a letter, Hall is calling for the resignation of two of the company’s SPAC-appointed board directors, whom he blames for Velodyne’s “poor financial performance.”
It’s the latest twist in the increasingly dramatic saga of Velodyne, a top maker of the laser sensors that are viewed as crucial for the operation of autonomous vehicles.
Velodyne merged in September with Graf Industrial.
On Feb. 22, Velodyne announced David Hall had been removed from his position as Chairman and his wife Marta Hall was removed from her role as Chief Marketing Officer following an Audit Committee investigation. The company disclosed the investigation concluded “Mr. Hall and Ms. Hall each behaved inappropriately with regard to Board and Company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with Company officers and directors.”
Marta Hall remains a member of Velodyne’s board of directors, while David Hall resigned his position in March. Read more.
