CRTO Stock Price – Criteo S.A. ADR Stock Quote (U.S.: Nasdaq)

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Criteo stock plunges after ‘abrupt’ CEO change

Shares of ad-tech company Criteo S.A. are down 6.6% in Thursday morning trading after the company announced a surprise shift to its leadership team the prior evening. Chief executive Eric Eichmann will be stepping down from that post and from the board, with chairman and former chief executive J.B. Rudelle returning to the CEO role. The changes are effective immediately. “The positive spin would be that the company is making a change,” wrote SunTrust Robinson Humphrey analyst Matthew Thornton, with shares having tumbled recently due to privacy-related measures taken by both Apple Inc. and European regulators. “The negative spin would be that this is a surprising and seeming abrupt change one week before the quarter and more importantly one month ahead of GDPR going into effect,” Thornton wrote, referring to the European data-privacy rules set to take action in May. Shares are down 51% over the past 12 months, while the S&P 500 has gained 11%.





Source : MTV