DJ Synchronoss Technology Shares Fall After CEO Resigns
By Allison Prang
Shares of Synchronoss Technologies Inc. slipped almost 10% Tuesday morning, after the company said its chief executive resigned after the board reviewed allegations of personal misconduct.
Glenn Lurie resigned as CEO and president of the company after the board's "review of allegations of personal misconduct...in violation of the company's policies," Synchronoss said Monday. Its board named chief commercial officer Jeff Miller interim CEO and president effectively immediately, the company said.
The company said Mr. Lurie's leaving isn't tied to "strategy, financial or business performance."
Synchronoss also affirmed its earning before interest, taxes, depreciation and amortization outlook for 2020.
Shares of the company are down 30% year to date. They were trading at $3.32 a share Tuesday morning.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
September 22, 2020 10:53 ET (14:53 GMT)
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