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Arcadia Resources Inc. (OTCBB: KADR.PK), an Indianapolis-based home care and healthcare staffing firm, won’t replace its departing president and CEO, according to a filing with the U.S. Securities and Exchange Commission. Instead, the company will be jointly managed by Chief Operating Officer and General Counsel Steven Zeller and CFO Matthew Middendorf.
President and CEO Marvin Richardson officially resigned Friday. The resignation comes as the firm has sold its pharmacy operations division and Richardson becomes employed by the buyer.
The company previously announced plans to sell its remaining homecare and healthcare staffing operations.