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MedCom Chief Executive, Operating Chief Resign

July 03, 2001

MedCom USA Inc. announced the resignations of two top executives after the Irvine company's stock was delisted by Nasdaq for failing to meet minimum price requirements.

Mark E. Bennett resigned as president and chief executive, and Michael Malet resigned as chief operating officer. James P. Covert, founder of Keystone Strategies, will become president and chief executive, but the company hasn't named a successor for Malet.

The stock, which began trading over the counter Monday, closed unchanged at 75 cents a share. The shares, which had traded on the Nasdaq SmallCap Market, have traded below $1 since May 22.

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