WALL STREET JOURNAL – Bumble's share price slid ~5% on Monday morning after the company said that founder Whitney Wolfe Herd is stepping down from the CEO role. She will remain as executive chair, while Lidiane Jones will take over as CEO on Jan 2. She currently heads up Slack Technologies, where she became CEO almost a year ago under the ownership of Salesforce. Shweta Khajuria of Evercore ISI wrote: "We view Whitney's departure as a near to midterm headwind for business operations and a negative for overall company morale." Investors weren't exactly hot for Bumble anyway, or Tinder owner Match for that matter. Bumble's share price was already down 35% for the year ahead of Monday's news, while Match was down 31%. The latter's stock slid more than 15% after it reported third-quarter results last week that showed a continued decline in the number of "payers" on the Tinder app.
by Dan Gallagher
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