Austin, Texas: Shares of Bumble experienced a 1.7% drop in early trading following the announcement of key leadership changes.

On December 2, Bumble Inc. revealed that Anu Subramanian, its Indian American Chief Financial Officer, will step down from her position on March 4, 2025. Subramanian, who joined Bumble in 2020, was instrumental in leading the company through its successful initial public offering (IPO) in 2021.

The company, headquartered in Austin, Texas, has begun the search for a replacement. The announcement caused Bumble’s shares to dip by 1.7% in early trading.

Subramanian brought valuable experience to Bumble, having held senior roles at Univision Communications, VICE Media, and Scripps Networks Interactive. She started her career at Ernst & Young and currently serves on the board of The New York Times Company. She holds an MBA from the Yale School of Management and is a Chartered Accountant from India.

In another leadership change, Bumble’s Chief Marketing Officer, Selby Drummond, will also leave the company in January 2024. Drummond, who joined in 2020, played a key role in developing Bumble's brand identity.

To strengthen its leadership, Bumble has appointed Neil Shah as the company’s first Chief Business Officer. Shah will focus on strategic changes, including refining the company’s revenue model, pricing strategy, and partnerships.

These leadership shifts come as Bumble faces its first quarterly sales decline since going public. Factors such as higher borrowing costs and a decrease in user spending on premium services have contributed to the slowdown, following a surge in demand during the pandemic.

In response to these challenges, Bumble has ramped up efforts to appeal to younger users and women, rolling out a revamped version of its app and introducing new features. Despite the difficulties, Bumble has maintained its financial outlook for the fourth quarter and full year of 2024.