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Why Jumia Stock Plunged Today

TheMotleyFool

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Shares of Jumia Technologies (NYSE: JMIA) fell 14% on Monday after the African online marketplace announced the departure of its co-chief executive officers.

Jumia said co-CEOs Jeremy Hodara and Sacha Poignonnec were stepping down today. The company appointed Francis Dufay as acting CEO as it conducts a search for a permanent replacement.

Dufay has served in several senior leadership positions since joining Jumia in 2014. He led the e-commerce platform's Ivory Coast marketplace and, most recently, its operations across all of Africa.

Source Fool.com

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