The employment of John Richards as CEO of the Joint Corp. (NASDAQ:JYNT) has been terminated by mutual agreement, effective June 30. Mr. Richards also resigned as a director. Peter Holt, who was previously COO, was named acting CEO.
In a statement, Richard Kerley, lead director, said the board has complete confidence in Mr. Holt’s operational and leadership abilities. “Mr. Holt was recruited with a view to the board’s responsibility for succession planning, and we look forward to supporting him as he applies his considerable skill and experience to fulfilling our commitments to our shareholders, franchisees and associates.”
The Joint operates a network of 330-pus chiropractic clinics nationwide. Its no-appointment policy, convenient hours and locations make care more accessible, and affordable membership plans and packages eliminate the need for insurance.