Bumble CFO to step down subsequent yr amid progress challenges By Reuters

(Reuters) – Bumble (NASDAQ:) acknowledged on Monday Anu Subramanian will step down as chief financial officer, environment friendly March 14, 2025.

Subramanian, who joined the courting app operator as CFO in 2020, carried out a key place throughout the agency’s preliminary public offering in 2021.

Bumble has begun in search of Subramanian’s successor.

Shares of the company fell 1.7% in early morning shopping for and promoting.

In several administration changes, Bumble’s Chief Promoting and advertising and marketing Officer, Selby Drummond, may be departing in January subsequent yr, the company acknowledged on Monday. She joined Bumble in 2020 and beforehand served as Chief Mannequin Officer.

The company moreover appointed Neil Shah to the newly created place of Chief Enterprise Officer. Shah will oversee strategic transformation, along with driving the revenue model, pricing method, and partnerships.

Closing month, the Austin, Texas-based agency reported its first quarterly product sales decline since going public, signaling that it may take longer for the company to boost its sluggish progress payment.

The company has intensified its promotional efforts to attract youthful clients and women by launching a refreshed Bumble app and new choices.

Elevated borrowing costs have led to diminished individual spending on the women-centric courting app and its premium selections, constraining progress after a post-pandemic surge.

Bumble reaffirmed its financial outlook for the fourth quarter and full yr of 2024.