Applovin Corp (APP)

Applovin Corporation Stock (APP) dropped by 5.44% from $43.79 to $41.41 in the trading on Monday November 13, 2023. The reason why APP stock down today is due to the leadership transition. Despite exceeding quarterly expectations and providing strong guidance, AppLovin has announced that its current CFO, Herald Chen, will be leaving the company at the end of the year to pursue other opportunities.

• Chen will be succeeded by Matt Stumpf, who currently serves as the company's Vice President of Finance and FP&A. Stumpf joined AppLovin in 2020.
• Dmitriy Dorosh, VP Controller, will assume the role of AppLovin's Principal Accounting Officer. Both Stumpf and Dorosh will officially step into their new positions on January 1st.