Why Logitech Shares Are Down Premarket Monday

Logitech International S.A. LOGI shares are trading lower premarket Monday after the company disclosed the departure of chief financial officer (CFO) Charles ‘Chuck’ Boynton in May.

Boynton will be departing the company to pursue another career opportunity and will continue to be with the company as CFO through mid-May. 

Logitech plans to name his successor at a later date.

Hanneke Faber, chief executive officer, said, “We thank Chuck for his financial leadership during his time at Logitech. We wish him well in his next role. We look forward to carrying forward Logitech’s strong track record of growth, financial rigor and operational excellence instilled across the organization.”

The company also confirmed its previously disclosed FY24 outlook for sales of $4.20 billion – $4.25 billion vs. consensus: $4.252 billion and adjusted operating income of $610 million – $660 million.

At that time, Logitech said that while the net sales decline rate has improved, several headwinds and uncertainties may impact its net sales throughout FY25. 

Price Action: LOGI shares are down 5.69% at $89.33 premarket on the last check Monday.

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