Wrap Tech slides as CEO, chairman leave in management shakeup

Wrap Technologies

24/01/2022 16:49

** Shares of security tech developer Wrap Technologies
 WRAP.O  tumble 31% to $2.7, their biggest intraday pct loss in
almost three years
   ** The maker of public-safety products says CEO, chairman and
some board members are leaving in a management shakeup 
   ** U.S. stock indexes also dropped on Monday, with the S&P
500 on course to confirm a correction  urn:newsml:reuters.com:*:nL4N2U431J
   ** Co says CEO Thomas Smith, who took the helm last March, 
has resigned 
    ** Patrick Kinsella, a board member since 2018 and chairman
since last June, as well as Jeff Kukowski, who joined the board
last April, have stepped down from the board
    ** Jim Barnes, chief financial officer, plans to retire by
the end of the year
    ** Wrap makes equipment for police as well as training
systems
    ** Wrap shares lost 18.6% in 2021

 (Reporting by Kannaki Deka in Bengaluru)
 ((Kannaki.Deka@thomsonreuters.com))