Pinterest drops as finance chief to step down
PINS•Pinterest shares fall after CFO departure announcement
Image sharing platform Pinterest's PINS.K shares fell 1.8% to $22.78 premarket after the company announced that Chief Financial Officer Julia Donnelly will step down on Oct. 30.
PINS has launched an external search for her replacement, with Vice President of Finance Vikram Naidu to serve as interim CFO.
Departure follows slower third-quarter revenue growth outlook
The departure comes after the company earlier this month forecast slower third-quarter revenue growth, a sign of tough competition for digital advertising dollars from rivals like Meta META.O.
As of the last close, PINS had slipped 10.4% year to date versus a 12.7% rise for the S&P 500 .SPX.
