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Allbirds, Inc. (NASDAQ:BIRD) announced Monday that board member Ann Freeman has resigned from the company’s board of directors, effective Monday. Freeman is departing to assume the role of President of Foot Locker , North America, following the completion of Foot Locker, Inc.’s merger with DICK’S Sporting Goods, Inc., according to a statement included in a press release based on the company’s SEC filing.
The company stated that Freeman’s resignation was not due to any disagreement regarding Allbirds’ operations, policies, or practices.
Following Freeman’s resignation, Allbirds notified the Nasdaq Global Select Market that it no longer complies with Nasdaq Listing Rule 5605(b)(1), which requires that a majority of a company’s board members be independent directors as defined by Nasdaq Listing Rule 5605(a)(2). Under Nasdaq’s rules, Allbirds has a cure period to regain compliance, ending on the earlier of one year from Monday or the company’s next annual meeting.
The information is based on a press release statement and the company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Allbirds Inc. reported its financial results for the second quarter of 2025, highlighting a net revenue of $40 million, which was at the high end of its guidance. The company faced a challenging macroeconomic environment, yet managed to meet its revenue expectations. However, Allbirds experienced a decline in its gross margin, which fell to 40.7% from 50.5% compared to the previous year. Additionally, the adjusted EBITDA loss was $13 million, surpassing the company’s guidance by over $3 million. These financial results reflect the ongoing challenges the company is navigating.
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