Rick Bettle has resigned from the board of Diligent Board Member Services, as the trial for his role at failed lender Dominion Finance looms.
The New York-based company is reviewing its corporate governance, using an outside consultant, and won't put up a new nominee at next week's annual meeting. Bettle resigned effective immediately, having joined the board in late 2007, Diligent said in a statement.
The governance app maker stressed his exit wasn't over its own administrative problems, which saw it award too many options to executives and engage an auditor that didn't meet the market regulator's requirements.
"Mr Bettle did not resign due to any disagreement with the company on any matter relating to the company's operations, policies, or practices," it said.
Diligent's shares fell 0.4 percent to $7.97 yesterday, and have surged 46 percent this year.