Logitech Shares Fall After CFO Resigns

By
Marc Zerbola Challande
Marc Zerbola Challande
Full Bio

Marc Zerbola Challande is a news reporter at Investopedia. Marc also co-founded Guerilla Capital, which provided marketing services for Canadian-listed firms.

Learn about our editorial policies
Published March 18, 2024
Logitech logo in both in Barcelona ISE 2024.

Cesc Maymo / Contributor / Getty Images

Key Takeaways

  • Logitech International shares fell Monday after the company said finance chief Charles Boynton will be stepping down "to pursue another career opportunity." 
  • Boynton, who has been in the role for just over a year, will remain with Logitech as CFO through mid-May “to ensure a seamless transition for the end of the 2024 fiscal year.”
  • Boynton’s departure took investors by surprise, coming less than six months after the company appointed a new chief executive, Hanneke Faber.


Logitech International (LOGI) shares fell 7% Monday after the Swiss computer accessories maker said its chief financial officer (CFO), Charles Boynton, will be stepping down after just over a year in the role.

The company said Boyton is leaving "to pursue another career opportunity." He will remain with Logitech as CFO through mid-May “to ensure a seamless transition for the end of the 2024 fiscal year," the Swiss company said, adding it would name Boynton’s successor at a later date. Boynton has been in the role only since Feb. 2023.

Boynton’s departure took investors by surprise, coming just under six months after the company appointed a new CEO, Hanneke Faber, who was previously president of consumer goods giant Unilever (UL).

The departure also comes after Logitech in January said sales for its fiscal third quarter ending Dec. 31 were $1.26 billion, down 3% in constant currency terms, compared with the prior year.

Logitech shares were 7.7% lower at $87.39 at 11:10 a.m. ET on Monday but have gained about 64% over the past year. 

Do you have a news tip for Investopedia reporters? Please email us at
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

  1. Logitech. “Logitech Announces CFO Departure."

  2. Logitech. “Charles Boynton to Join Logitech as Chief Financial Officer.”

  3. Logitech. “Logitech Appoints Hanneke Faber as Chief Executive Officer.”

  4. Logitech. “Logitech Announces Third Quarter Fiscal Year 2024 Results.”

Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.