Why Salesforce Stock Is Sinking Today
Shares of Salesforce (NYSE: CRM) were trading lower on Thursday. The company's stock lost 4.5% as of 3:30 p.m. ET but was down as much as 5.4% earlier in the day. The move down comes as the S 500 gained 0.1% and the Nasdaq composite gained 0.2% on the day.
Salesforce stock took a hit after the sales software giant announced on Wednesday evening that longtime President and COO, Brian Millham, would be retiring.
Brian Millham was with Salesforce for 25 years. Stepping into a newly created role to replace Mr. Millham, Robin Washington will become chief operating and financial officer (COFO). The move comes as the company attempts to accelerate its AI-focused strategy. According to the press release, Washington will help "lead Salesforce's next phase of transformation -- driving profitable growth, operational excellence, and financial strategy."
Source Fool.com
