Safeguard Scientifics CEO Stephen Zarrilli, CFO Jeffrey McGroarty, and a senior vice president are stepping down from their positions at the Radnor company, writes Michelle Caffrey for the Philadelphia Business Journal.

The move follows pressure from activist investors who are blaming the company’s current management team for its recent financial struggles.

Zarrilli will retire at the end of September, while McGroarty will leave at the end of June. The departure date of John Shave, Senior Vice President of Investor Relations and Corporate Communications, has not yet been set.

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According to Safeguard, Zarrilli will not run to remain on Safeguard’s board at the company’s annual meeting. But will remain as an employee until September to help with the transition for his replacement, current COO and Managing Director Brian Sisko.

David Kille, Safeguard’s Corporate Controller, will become CFO on June 1. Shave will not be replaced after his departure. Once Sisko becomes CEO, the positions of COO and Managing Director will remain empty.

Read more about Safeguard Scientifics in the Philadelphia Business Journal by clicking here.

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