Velodyne founder David Hall steps down as director after removal from chairman post

March 4, 2021 6:52 PM EST

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(Reuters) - Sensor maker Velodyne Lidar Inc said its founder David Hall resigned as a director of the company on Tuesday, days after he was removed as chairman.

Velodyne, one of several companies vying to supply automakers with lidar, said on Feb. 22 it had removed Hall as chairman, following the completion of an investigation by the board's audit committee.

The company's shares closed down 6.9% at $13.53 on Thursday.

(Reporting by Chavi Mehta in Bengaluru; Editing by Shounak Dasgupta)

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