Zoom Abruptly Fires President Greg Tomb ‘Without Cause’
- Stock falls nearly 2% in premarket trading Friday morning
- Citi analyst says move is hard to view in positive light
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Zoom Video Communications Inc. slumped in early trading Friday after abruptly terminating the employment of President Greg Tomb, a former Google executive who had only started at the firm in June.
Shares of the video-conferencing software company fell as much as 2% in premarket, putting them on track to extend their decline this week to more than 6%. Tomb will receive severance benefits in accordance with arrangements that are payable upon a “termination without cause,” the company said in a regulatory filing. The move is effective Friday.