Difficult days for Cloudera investors
"Cloudera stock fell as much as 32% on Wednesday after the company said CEO Tom Reilly is retiring and leaving the company’s board, effective July 31. The company also announced earnings.Cloudera announces CEO departure, stock plunges | CNBC
Under Reilly, Cloudera went public in 2017 and completed a merger with competitor Hortonworks. Now Reilly is being replaced on a temporary basis by board member Martin Cole, a former Accenture executive, as Cloudera kicks off a search for a permanent CEO.
Co-founder Mike Olson, Cloudera’s chief strategy officer and former CEO, is also leaving the company, Reilly said.
Cloudera stock had fallen almost 49% in the past year prior to the announcement."
Post a Comment