The move comes a day after the company said that Andy Byron had been placed on leave and the board of directors had launched a formal investigation into the jumbotron incident, which went viral.

"Our leaders are expected to set the standard in both conduct and accountability, and recently, that standard was not met," the company said in a statement.

Andy Byron, the chief executive of New York-based tech company Astronomer, has resigned from his role after he was spotted embracing an employee at a Coldplay concert, according to a LinkedIn post from the company on Saturday.