In a recent development, Logitech announced the impending departure of its Chief Financial Officer, Charles Boynton, scheduled for May. The Swiss-based company cited Boynton’s departure as a result of pursuing a new career opportunity, with plans to unveil his successor at a later date.
Boynton, who has held the CFO position for 1,5 years, departs at a time when Logitech’s newly appointed CEO, Hanneke Faber, has been at the helm for only six months. Following the announcement, Logitech’s shares experienced a notable decline of approximately 6% at the market’s opening, signaling investor concern.
Analysts from Vontobel noted that this departure could have an impact on Logitech’s shares, particularly as it coincides with the company’s scheduled update on its long-term financial strategy.
Earlier in January, Logitech announced its intention to rejuvenate revenue growth after experiencing consecutive quarters of declining sales despite the heightened demand for its products during the pandemic period.
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