Stamps.com (Nasdaq: STMP) lost 1/8 to close at 3 1/2 Monday after the online shipping and mailing company said Loren Smith stepped down as president and chief operating officer.
The company also said chief financial officer John LaValle and comptroller Candelario Andalon are leaving “to pursue other endeavors.”
Chairman and chief executive John Payne said Stamps.com is “well prepared” to carry out its plans and strategies.
Payne added, “People often seek assurances about the soundness of a company’s financial and accounting procedures when key financial executives leave. There are no such issues in this situation.”