Dating services company Bumble (BMBL) announced major leadership changes on Monday, including the departure of CFO Anu Subramanian. The Bumble CFO will leave the company on March 14, 2025, to pursue opportunities outside of it.
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Bumble is already looking for a replacement for Subramanian, who will remain on long enough to finish the firm’s year-end earnings and Form 10-K filing, all while assisting with the transition. Her departure is a major shift for the female-led company as she was a major player behind BMBL’s initial public offering (IPO) in 2021. It also ends a roughly five-year stint at Bumble after she joined the company as its CFO in 2020.
Other Leadership Moves
The departure of its CFO isn’t the only leadership update from Bumble. The Match Group, Inc. (MTCH) rival also notes that Chief Marketing Officer Selby Drummond is leaving the company in January 2025. This is also to pursue a new opportunity outside of Bumble.
The final leadership change announced by Bumble is Neil Shah being named its new Chief Business Officer. Shah is filling this role immediately and brings with him experience as the previous Chief Operating Officer and Head of Business Operations at Slack Technologies (WORK).
Investors appear receptive to the changes announced by Bumble today. The company’s shares are up 0.92% as of this writing. However, BMBL stock is still down 40.47% year-to-date and 38.97% over the past 12 months.
Is BMBL Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Bumble is Hold based on four Buy, 11 Hold, and one Sell ratings over the last three months. With that comes an average price target of $8.12, a high of $10, and a low of $5.75. This represents a potential downside of 7.46% for BMBL shares.
