The company’s board has appointed an executive committee to oversee daily operations during the leadership gap. Chair Anthony Longo expressed confidence in the interim team, which includes Chief Financial Officer Melinda Lee, Chief Operating Officer Chris, and Vice President of People Tara Ramsay. They will manage the business while the board conducts an external search for a new permanent head.

Pelton’s departure follows a seven-year tenure marked by significant corporate restructuring and efforts to navigate the financial volatility brought on by the Covid-19 pandemic. Although he is exiting his executive post immediately, Pelton and his family intend to remain significant shareholders in the firm. Aegis previously indicated that the outgoing CEO would stay on to assist with a transition, though the company has now opted to shift those responsibilities to the existing executive committee.