Why Logitech Stock Dropped 8% on Monday
Logitech International (NASDAQ: LOGI) stock slid 7.8% through 10:20 a.m. ET this morning, after the computer peripherals maker announced that its CFO, Chuck Boynton, is leaving the company "to pursue another career opportunity."
To help allay investor concerns that this departure might imply a problem with Logitech's business, management reaffirmed its sales forecast for fiscal 2024, previously disclosed in January -- but investors are selling anyway.
Boynton's job switch seems to have come as a surprise to Logitech, because it doesn't have a replacement lined up just yet, and will have to name someone "at a later date."
Source Fool.com
