The Toronto-based legaltech company said that its CEO George Tsivin was no longer in his post or serving on the board, effective immediately. Former executive Proud will co-chair the committee that will assume Tsivin’s responsibilities for now, as the board searches for a permanent chief executive. (The Logic)

Talking point: Dye & Durham has once again upended its governance, after an activist investor campaign kicked off more than two years of boardroom battles. Shares fell over eight per cent on Wednesday afternoon. Both Tsivin and the previous board chair, Alan Hibben, received over 99 per cent approval in a March shareholder vote. But newly appointed board chair Mary Filippelli said in a press release that a leadership transition was necessary after the board “heard clearly from the market that the company must move with greater discipline.” Tyler Proud—brother of Matt Proud, who had previously considered buying the company—returned to the company’s board in late May. Hibben resigned two weeks later.