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Indian American CFO Anu Subramanian to step down from Bumble
Shares of Bumble fell 1.7 percent in early trading following the announcement.
Anu Subramanian. / Bumble
Bumble Inc. announced on Dec.2 that its chief financial officer, Anu Subramanian, an Indian American executive, will step down effective Mar.4, 2025. Subramanian, who joined the company in 2020, played a pivotal role in steering the dating app operator's successful initial public offering (IPO) in 2021.
The Austin, Texas-based company has initiated a search for her successor. Shares of Bumble fell 1.7 percent in early trading following the announcement.
Subramanian brought a wealth of experience to Bumble, having held leadership positions at Univision Communications, VICE Media, and Scripps Networks Interactive. Her career began at Ernst & Young, and she is currently a board member at The New York Times Company. Subramanian holds an MBA from the Yale School of Management and is a Chartered Accountant from India.
In a related development, Bumble's chief marketing officer, Selby Drummond, will also depart in January 2024. Drummond joined the company in 2020 and was instrumental in shaping Bumble's brand identity.
To bolster its leadership team, Bumble has appointed Neil Shah to the newly created role of chief business officer. Shah will focus on strategic transformation, including the revenue model, pricing strategy, and partnerships.
The leadership transitions come as Bumble grapples with its first quarterly sales decline since going public. Increased borrowing costs and reduced user spending on premium offerings have contributed to the slowdown, which follows a surge in demand during the pandemic.
The company recently intensified efforts to attract younger users and women, unveiling a refreshed Bumble app and new features. Despite the challenges, Bumble reaffirmed its financial outlook for the fourth quarter and full year of 2024.
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