Cutera Inc., a Brisbane, Calif.-based provider of equipment for beauty treatments such as body sculpting, fired its executive chair Daniel Plants and its chief executive David Mowry for cause on Wednesday in a dispute about the company’s CEO succession plan.
The news sent the stock CUTR down 27% to put it on track for its biggest one-day percentage decline since May of 2018. In the first hour, 1.1 million shares traded, compared with a daily average turnover of 601,000 shares over the past 65 days.
The…
