Logitech: shares drop after CFO resigns
(CercleFinance.com) - Logitech shares are down over 3% on Tuesday, after the Swiss technology accessories maker announced the resignation of its chief financial officer.
Logitech said that Vincent Pilette will leave the company and cease to be a member of its management team at the end of May, with him set to join another company.
"His departure is sad to hear given his strong execution," analysts at UBS said today.
Logitech has named Nate Olmstead, a former executive at Hewlett Packard Enterprise, interim chief financial officer following Pilette's departure.
The move comes as Logitech delivered its third consecutive year of double-digit growth at constant currencies. Sales reached a peak of 2.8 billion dollars in the past quarter, up 9% in US dollars and 10% at constant currencies.
Logitech also confirmed its fiscal year 2020 outlook, but its shares were down 3.4% at 41 Swiss francs this morning in Zurich.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Logitech said that Vincent Pilette will leave the company and cease to be a member of its management team at the end of May, with him set to join another company.
"His departure is sad to hear given his strong execution," analysts at UBS said today.
Logitech has named Nate Olmstead, a former executive at Hewlett Packard Enterprise, interim chief financial officer following Pilette's departure.
The move comes as Logitech delivered its third consecutive year of double-digit growth at constant currencies. Sales reached a peak of 2.8 billion dollars in the past quarter, up 9% in US dollars and 10% at constant currencies.
Logitech also confirmed its fiscal year 2020 outlook, but its shares were down 3.4% at 41 Swiss francs this morning in Zurich.
Copyright (c) 2019 CercleFinance.com. All rights reserved.