Market Overview

Shutterfly Tanks as CFO Looks for Greener Pastures

Shares of online personal publishing service company Shutterfly (NASDAQ: SFLY) are under much pressure this morning after the company announced yesterday that its CFO Mark Rubash will leave the company.

Shutterfly announced that Mark Rubash, its senior vice president and CFO will leave Shutterfly on February 24, 2012 to pursue a personal passion with an early stage medical technology company.

President and CEO, Jeff Housenbold and Vice President and Chief Accounting Officer, Brian Manca will assume Mark's responsibilities while the Company conducts an immediate search for a new CFO.

Mark Rubash will remain with the Company through the Company's year-end accounting close and annual audit process and will discuss Shutterfly's fourth quarter and full year 2011 financial results on its fiscal 2011 earnings conference call on February 1, 2012.

Currently, shares of Shutterfly are trading about 8.5% lower at $22.02.

Posted-In: News Management Intraday Update Movers

 

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