Why Logitech Shares Are Falling Wednesday Morning
Portfolio Pulse from Lekha Gupta
Logitech International SA (NASDAQ:LOGI) announced the departure of its CEO, Bracken Darrell, effective June 13, 2023. Guy Gecht, a non-executive board member, will serve as interim CEO. Logitech reported Q4 FY23 revenue of $960.1 million and adjusted EPS of $0.50, both beating consensus estimates. LOGI shares are trading lower by 9.47% at $57.85 premarket.
June 14, 2023 | 9:48 am
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Logitech CEO Bracken Darrell is departing, with Guy Gecht named as interim CEO. The company reported better-than-expected Q4 FY23 results, but LOGI shares are down 9.47% premarket.
The departure of Logitech's CEO may create uncertainty among investors, leading to the decline in LOGI shares. Despite better-than-expected Q4 FY23 results, the stock is trading lower by 9.47% premarket, indicating a negative short-term impact.
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