Wise Shares Slide as CFO Announces Departure

Shares of British fintech firm Wise fell 3 percent after the company announced the departure of its Chief Financial Officer Matt Briers, who will step down in March 2024, as well as the upcoming paternity leave of its CEO, Kristo Kaarman, starting in September. he company stated that an immediate search for a new CFO will begin. During Kaarman's absence, Wise's Chief Technology Officer, Harsh Sinha, will assume the role of interim CEO. The management shakeup could potentially be viewed as positive for Wise shares, with speculations that Sinha may permanently take over as CEO while Kaarman assumes the position of executive chairman. Analysts from Jefferies suggested that these changes could benefit Wise in the mid-term.