CAMBRIDGE, Mass.–(BUSINESS WIRE)–Krishna K. Gupta today announced his resignation as Interim Chief Executive Officer of Presto Automation, effective immediately. After a four-month tenure as CEO, Gupta will return to his post as Chairman of the Board of Directors.
“My role as CEO was always intended to be interim and is done for now,” said Gupta. “The company is in an excellent position with strong leadership in place. I look forward to returning to my post as Chairman and ensuring maximal shareholder value creation, as I have done while CEO. I will continue leading various initiatives on behalf of the company,” said Gupta.
Since Gupta’s appointment as Interim CEO on March 27, 2023, the company has achieved significant milestones, including becoming a top-10 performing stock on the Nasdaq in Q2 (up nearly 4X), announcing one of the largest-ever drive-thru automation customers in the world, affirming its market leadership position in Enterprise AI, and elevating brand visibility with several national media engagements across Bloomberg, CNBC, and The Wall Street Journal.
“From the day I took over, we have moved at lightning speed, doubling-down on our own technology platform in both Voice and Touch, and underscoring our commitment to creating magic for our customers old and new. This will not change and I will work closely with the team as well as with our customers to ensure we unlock maximal value,” said Gupta. “The potential of AI-enabled automation to generate massive, tangible ROI for our customers is more immediately actionable than ever before.”
As the first investor in Presto Automation in 2008 while at MIT, Gupta has been an integral part of the company’s story. In addition to his role as Chairman, he remains the company’s largest shareholder.
“I remain a steward of all $PRST shareholders,” said Gupta. “I have not sold a share, I don’t intend to sell a share anytime soon, and I will continue to do everything I can to accelerate the leadership position the company has built. I will remain equally engaged with the shareholder community.”
About Krishna K. Gupta
Krishna K. Gupta is the founder and CEO of Remus Capital, an early-stage investment firm focused on Applied AI and Healthcare. He was the first investor in Presto Automation in 2008.