Fitbit has appear that arch banking administrator (CFO) Bill Zerella is abrogation the aggregation afterwards four years at the helm.
Replacing Zerella is Ronald W. Kisling, who has served as the company’s arch carnality admiral and arch accounting administrator back September 2014. Kisling captivated the CFO appellation at a cardinal of added companies afore starting at Fitbit.
Zerella abutting Fitbit a year afore it went accessible on the New York Stock Exchange (NYSE), accepting served as CFO at assorted firms over the antecedent two decades. However, Fitbit’s shares accept about been in chargeless abatement back the company’s bazaar admission in 2015. From its $20 IPO price, Fitbit surged to a aerial of added than $40 afore biconcave to beneath than $6, area it has remained over the accomplished year.
Fitbit marginally beat Wall Street acquirement expectations in Q1 2018, but its sales were bottomward year-on-year as the broader fettle tracking bazaar declined, with smartwatches on the up. Against that backdrop, Fitbit afresh appear its additional smartwatch and aboriginal wearable for kids, as it strives to capitalize on its cast in broader verticals. Earlier this week, Fitbit announced that it had alien added than a actor Versa smartwatches back they went on auction in mid-April, authoritative the Versa one of its better articles to date.
In agreement of area Zerella is branch now, well, according to Fitbit he’s activity to angle his CFO chops at an chargeless agent startup, admitting the name of the aggregation wasn’t revealed. Zerella’s aftermost day at Fitbit will be June 15, 2018.
“Over the accomplished four years, Bill’s affection and adherence to growing early-stage companies were key enablers of Fitbit’s transformation from a startup to the arch all-around cast it is today,” said Fitbit cofounder and CEO James Park. “We acknowledge him for his endless contributions, including arch our acknowledged IPO in 2015, allegorical our common expansion, and laying the foundation for our approaching success.”
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