Penguin Solutions Inc (NASDAQ:PENG) shares are rising in extended trading Monday after the company announced a CFO transition and provided an update on its full-year outlook.
Penguin Solutions shares are testing new highs. Why is PENG stock breaking out?
Penguin Solutions Announces CFO Transition
Nate Olmstead, senior vice president and CFO of Penguin Solutions, will step down on July 8 to pursue another opportunity in a separate industry.
Penguin Solutions Vice President of Finance and Accounting Aaron Johnson will assume the role of interim CFO while the company searches for a permanent replacement. Penguin said it tapped a leading executive search firm to help find the company’s next CFO.
