Why Kulicke & Soffa Stock Slumped by Nearly 10% Today
The company named a new leader.
Overview
Semiconductor assembly component company Kulicke & Soffa Industries (NASDAQ: KLIC) wasn't a bright light on the stock exchange on Tuesday. On news of a major C-Suite change, plus a degree of profit-taking, investors aggressively sold its shares, leaving them with an almost 10% loss that trading session.
That morning, Kulicke & Soffa announced that Raj Talluri is to become its CEO and president. He will replace interim CEO Lester Wong in the role, with Wong concentrating on the CFO duties he held as a dual executive. That switch takes effect on Tuesday, Sept. 1.
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Originally published at www.fool.com.
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