Bumble Inc (NASDAQ:BMBL) shares got ditched after Tariq Shaukat announced he was stepping down as president of the online dating platform effective September 1 and moving into an advisory role during a transition period.
His resignation is voluntary and is not the result of any disagreement with the company or on any matter relating to the company’s operations, policies, or practices, Bumble said in a statement.
“Tariq is an outstanding leader and has been an incredible partner over the last few years. He was instrumental in helping to scale Bumble into the leading global platform for kind connections,” Bumble founder and CEO Whitney Wolfe Herd told shareholders.
“We thank him for his invaluable contributions and wish him the best in his next endeavor.”
Shaukat had an “impactful run” at Bumble, spanning its successful IPO to the build-out of a best-in-class management team and organizational structure, the company continued.
“My time at Bumble has been one of the most rewarding chapters of my career,” commented Shaukat.
“I’m proud of what we have accomplished and so thankful for all the talented people who have been working tirelessly to support the Bumble mission. It’s an honor to have been a part of something so special.”
Bumble’s shares were down 9% at $14.82 in early afternoon trade.
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