Pinterest Stock Plunges After Unexpected CFO Departure
Pinterest's stock fell 4% on Monday after the company announced that its Chief Financial Officer, Julia Brau Donnelly, had resigned. The departure was described as a surprise and not due to any disagreement with the company over accounting principles or practices.
Donnelly will remain with Pinterest until October 30, 2026, to support an orderly transition. Her replacement, Vikram Naidu, has been appointed as interim principal financial officer effective that date. The company is also conducting a search for a permanent CFO.
Pinterest's Q2 revenue rose 18% year over year to $1.18 billion, but the company guided to slower growth in its third quarter, with a target of 13-15% revenue growth. This deceleration has raised questions about whether investors are reacting to the leadership gap or something more fundamental.
The departure of Donnelly comes as Pinterest competes directly with Meta Platforms and Alphabet for digital advertising dollars through Instagram and Google's search-and-YouTube ad stack, respectively.