The saga of embattled venture firm Safeguard Scientifics, which has ceased investment in new companies and looks to divest its stake in about 25 companies, continues to unfold: CEO Steve Zarrilli and two other C-suite execs at the publicly traded Radnor firm will be stepping down, the company said Friday in a press release.

Zarrilli, who became CEO of the company in 2012, will leave Safeguard in September. The downsizing, which Safeguard says is part of an “aggressive cost-reduction initiative,” continues with the departure of Senior Vice President and Chief Financial Officer Jeffrey McGroarty, who will leave the company in June, and Senior Vice President of Investor Relations and Corporate Communications John Shave, who will leave the company at an “unspecified date”

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