EverQuote Announces Cost Reduction Plan And Appointment Of Joseph Sanborn As CFO; John Wagner, Is Leaving Co To Pursue Other Opportunities; Plans To Implement Structural Reduction Of Over 15% In Its Non-marketing Operating Expenses
Portfolio Pulse from Benzinga Newsdesk
EverQuote announces a cost reduction plan, aiming to reduce non-marketing operating expenses by over 15%. Joseph Sanborn has been appointed as the new CFO, replacing John Wagner who is leaving the company.
June 16, 2023 | 8:08 pm
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NEUTRAL IMPACT
EverQuote's cost reduction plan and appointment of Joseph Sanborn as CFO may lead to short-term stock price fluctuations.
The cost reduction plan may be seen as a positive move by investors, as it could improve the company's financial health. However, the departure of John Wagner and appointment of Joseph Sanborn as CFO may create uncertainty in the short term, leading to neutral impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100