Fermi Inc. shares plunged 20% on Monday after co‑founder Toby Neugebauer resigned as CEO.
Marius Haas was named Chairman of the Board, while Jacobo Ortiz Blanes and Anna Bofa were appointed Co‑Presidents to run day‑to‑day operations.
CFO Miles Everson resigned, joined the board; the firm seeks an interim CFO and hired Heidrick & Struggles for a CEO search.
Fermi announced a new Dallas headquarters and an office at its Project Matador site in Amarillo, with Texas Tech backing the partnership.