Construction Partners reported the death of long-serving director and audit committee member Michael H. McKay, leaving its audit committee out of compliance with Nasdaq composition requirements. The company plans to appoint a new independent director to restore compliance and maintain board oversight. McKay spent more than two decades overseeing Construction Partners' financial reporting and capital allocation as the company expanded across the Southeast. The Nasdaq non-compliance notice highlights a governance risk alongside existing concerns about funding dependence and execution complexity.
Construction Partners IncDirector death leaves audit committee non-compliant with Nasdaq rules, a governance risk.
