Bumble Inc. Announces Senior Leadership Updates
Bumble Inc. announced key leadership changes and reaffirmed its 2024 financial outlook. Neil Shah has been appointed as Chief Business Officer, a new position focused on strategic transformation, revenue model, and partnerships. Chief Financial Officer Anu Subramanian will step down in March 2025, while Chief Marketing Officer Selby Drummond will depart in January 2025. Subramanian, who joined in 2020, will assist with the transition through the year-end earnings and Form 10-K filing. The company has initiated a search for a new CFO. Both departing executives were credited with significant contributions to Bumble's growth and global expansion.
Bumble Inc. ha annunciato importanti cambiamenti nella leadership e ha ribadito le sue previsioni finanziarie per il 2024. Neil Shah è stato nominato Chief Business Officer, una nuova posizione focalizzata sulla trasformazione strategica, il modello di entrate e le partnership. Il Chief Financial Officer Anu Subramanian si dimetterà a marzo 2025, mentre il Chief Marketing Officer Selby Drummond partirà a gennaio 2025. Subramanian, che è entrato in azienda nel 2020, assisterà nella transizione attraverso la chiusura dell'anno e il deposito del modulo 10-K. L'azienda ha avviato la ricerca per un nuovo CFO. Entrambi i dirigenti in partenza sono stati accreditati di significativi contributi alla crescita e all'espansione globale di Bumble.
Bumble Inc. anunció cambios clave en el liderazgo y reafirmó su perspectiva financiera para 2024. Neil Shah ha sido nombrado Chief Business Officer, un nuevo puesto enfocado en la transformación estratégica, el modelo de ingresos y las asociaciones. La Chief Financial Officer Anu Subramanian renunciará en marzo de 2025, mientras que la Chief Marketing Officer Selby Drummond se irá en enero de 2025. Subramanian, quien se unió en 2020, ayudará con la transición a través de los resultados del año y la presentación del Formulario 10-K. La compañía ha iniciado la búsqueda de un nuevo CFO. Ambos ejecutivos salientes fueron reconocidos por sus contribuciones significativas al crecimiento y expansión global de Bumble.
Bumble Inc.는 주요 리더십 변화를 발표하고 2024년 재정 전망을 재확인했습니다. Neil Shah가 전략적 변화, 수익 모델 및 파트너십에 중점을 둔 새로운 직책인 최고 비즈니스 책임자(Chief Business Officer)로 임명되었습니다. 최고 재무 책임자 Anu Subramanian은 2025년 3월에 사임할 예정이며, 최고 마케팅 책임자 Selby Drummond는 2025년 1월에 떠날 예정입니다. 2020년에 합류한 Subramanian은 연말 실적 발표 및 Form 10-K 제출을 통해 전환을 지원할 것입니다. 회사는 새로운 CFO를 찾기 위한 절차를 시작했습니다. 두 명의 떠나는 임원 모두 Bumble의 성장과 글로벌 확장에 중요한 기여를 한 것으로 평가받고 있습니다.
Bumble Inc. a annoncé d'importants changements de leadership et a réaffirmé ses prévisions financières pour 2024. Neil Shah a été nommé Chief Business Officer, un nouveau poste axé sur la transformation stratégique, le modèle de revenus et les partenariats. Le Chief Financial Officer Anu Subramanian quittera son poste en mars 2025, tandis que la Chief Marketing Officer Selby Drummond partira en janvier 2025. Subramanian, qui a rejoint l'entreprise en 2020, aidera à la transition jusqu'à la clôture des résultats annuels et au dépôt du formulaire 10-K. L'entreprise a lancé une recherche pour un nouveau CFO. Les deux dirigeants sortants ont été crédités de contributions significatives à la croissance et à l'expansion mondiale de Bumble.
Bumble Inc. hat wichtige Veränderungen in der Führung angekündigt und seinen finanziellen Ausblick für 2024 bestätigt. Neil Shah wurde zum Chief Business Officer ernannt, einer neuen Position, die sich auf strategische Transformation, Einnahmenmodell und Partnerschaften konzentriert. Der Chief Financial Officer Anu Subramanian wird im März 2025 zurücktreten, während der Chief Marketing Officer Selby Drummond im Januar 2025 ausscheiden wird. Subramanian, der 2020 beigetreten ist, wird den Übergang bis zur Bekanntgabe der Jahresergebnisse und der Einreichung des Formulars 10-K unterstützen. Das Unternehmen hat eine Suche nach einem neuen CFO eingeleitet. Beide scheidenden Führungskräfte wurden für ihre wesentlichen Beiträge zum Wachstum und zur globalen Expansion von Bumble gewürdigt.
- Appointed experienced tech executive Neil Shah as Chief Business Officer to drive strategic transformation
- Maintained financial outlook stability for Q4 and full year 2024
- Planned smooth transition period with CFO staying until March 2025
- Loss of key executives with CFO and CMO departures announced
- Potential disruption in financial and marketing leadership during transition period
Insights
The announced leadership changes at Bumble are part of a strategic transformation but unlikely to have immediate material impact. The most significant move is the appointment of Neil Shah as Chief Business Officer - his experience at Slack and Twitter in scaling operations could prove valuable for Bumble's revenue model optimization. However, the planned departures of both the CFO and CMO in 2025, while orderly transitions, create some execution uncertainty.
The reaffirmation of 2024 financial guidance provides stability amid these changes. With a market cap under
Neil Shah appointed to newly created Chief Business Officer position
Chief Financial Officer Anu Subramanian and Chief Marketing Officer Selby Drummond to depart in 2025
Appoints New Chief Business Officer
Neil Shah has been appointed to the newly created role of Chief Business Officer, a key leadership position with responsibility for the execution of Bumble’s strategic transformation, including driving the Company’s revenue model, pricing strategy, and partnerships. Neil has served as an advisor to Bumble Inc. and previously served as Chief Operating Officer and Head of Business Operations at Slack, where he rose through strategy, data and business operations over the last eight years. Earlier in his career, Neil held strategy roles at Twitter, and began his career as a consultant at McKinsey & Co. His appointment is effective immediately.
“Since the start of this year, we have taken bold steps to transform Bumble and strengthen our business to capture the large opportunity ahead, while changing online dating for the better. Our new Chief Business Officer role leverages Neil’s deep experience scaling technology companies and driving business improvements to advance our mission,” said Lidiane Jones, Chief Executive Officer of Bumble Inc. “With Neil’s partnership and our clear vision for Bumble’s future, we believe we are well positioned to deliver on the tremendous potential we see in the business.”
Chief Financial Officer to Step Down in March
Anu Subramanian announced her resignation as Chief Financial Officer to pursue opportunities outside the Company. She will continue to serve in her role through March 14, 2025 including through Bumble’s year-end earnings and the filing of its Form 10-K, and will assist with the transition of her responsibilities. The Company has commenced a search process to identify her successor. Anu joined Bumble as CFO in 2020 and was instrumental in the Company’s 2021 initial public offering and presided over a period of rapid growth and global expansion.
“I want to sincerely thank Anu for her partnership and for her many significant contributions, which have helped grow Bumble into a billion-dollar global business today,” said
Chief Marketing Officer to Depart in January
Selby Drummond announced plans to depart from her role as Chief Marketing Officer in January 2025 to pursue a new opportunity outside the Company. Selby joined Bumble in 2020 and served as Bumble’s Chief Brand Officer prior to being appointed to the CMO role. She helped build Bumble into a recognized and respected global brand and drove strong awareness of the brand’s commitment to kindness, respect and safety.
“Selby has been an outstanding steward of Bumble’s iconic brand over the last four years,” said
Affirms Financial Outlook
In conjunction with today’s announcement, the Company also reaffirmed its financial outlook for the fourth quarter and full year of 2024, which was previously announced on November 6, 2024.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current views with respect to, among other things, statements related to changes in its senior leadership and its financial outlook for the fourth quarter and full-year 2024. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believe(s),” “expect(s),” “potential,” “continue(s),” “may,” “will,” “should,” “could,” “would,” “seek(s),” “predict(s),” “intend(s),” “trends,” “plan(s),” “estimate(s),” “anticipates,” “projection,” “will likely result” and or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”) as such factors may be updated from time to time in the Company’s periodic filings with the SEC. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Company’s filings with the SEC. Forward-looking statements included in this press release are made as of the date hereof, and Bumble Inc. does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
About Bumble
Bumble Inc. is the parent company of Bumble, Bumble For Friends, Badoo, Fruitz and Official. The Bumble platform enables people to build healthy and equitable relationships, through Kind Connections. Founded by Whitney Wolfe Herd in 2014, Bumble was one of the first dating apps built with women at the center and connects people across dating (Date mode), friendship (BFF Mode) and professional networking (Bizz mode). Bumble For Friends app is a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections. Badoo, which was founded in 2006, was one of the pioneers of web and mobile free-to-use dating products. Fruitz, founded in 2017, encourages honesty and transparency by sharing dating intentions from the first touch point. Official, founded in 2020, is an app that is intended to help couples build healthy and lasting habits in their romantic relationships.
For more information about Bumble Inc., please visit www.bumble.com and follow @Bumble on social platforms.
Source: Bumble Inc.
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Investor Contact
ir@team.bumble.com
Media Contact
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Source: Bumble Inc.
FAQ
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