Why Jumia Stock Plunged Today
Shares of Jumia Technologies (NYSE: JMIA) fell 14% on Monday after the African online marketplace announced the departure of its co-chief executive officers.
Jumia said co-CEOs Jeremy Hodara and Sacha Poignonnec were stepping down today. The company appointed Francis Dufay as acting CEO as it conducts a search for a permanent replacement.
Dufay has served in several senior leadership positions since joining Jumia in 2014. He led the e-commerce platform's Ivory Coast marketplace and, most recently, its operations across all of Africa.
Source Fool.com
