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Angi Inc. (NASDAQ:ANGI), a $885 million market cap company in the advertising services industry currently trading at $1.77 per share, announced significant changes to its executive team today. According to InvestingPro analysis, the company appears undervalued despite maintaining profitability with earnings of $0.07 per share over the last twelve months. The company disclosed the departure of its Chief Technology Officer, Kulesh Shanmugasundaram, and the appointment of a new Chief Product Officer, Kris Boon. These leadership changes come as the company maintains a strong financial position with liquid assets exceeding short-term obligations and a healthy current ratio of 2.14.
Shanmugasundaram will resign from his role effective March 31, 2025, and will transition his responsibilities by that date. As part of a Transition Agreement, he will receive his current base salary of $500,000 per annum and a cash bonus of $210,000 for the fiscal year 2024. Following his departure, he will continue to receive his base salary and health benefits through March 31, 2026, and will also benefit from the accelerated vesting of certain restricted stock units.
In addition to these leadership changes, David Fleischman will transition from his role as Chief Product Officer to Chief Experience Officer, a position in which he will no longer serve as an executive officer of the company.
Kris Boon is set to fill the Chief Product Officer position starting March 31, 2025. Boon, 39, previously held the role of Chief Product and Technology Officer for Angi’s international business since April 2019. His experience includes a tenure at Sanoma, a European media company, and co-founding InsideGamer BV, a Dutch gaming website.
This announcement follows Angi Inc.’s commitment to evolving its leadership to meet strategic goals and maintain its competitive edge in the market. The details of these transitions are documented in the company’s latest SEC filing, which will also be included in Angi’s quarterly report for the quarter ending March 31, 2025. For deeper insights into Angi’s leadership transitions and comprehensive financial analysis, InvestingPro subscribers can access the detailed Pro Research Report, which provides expert analysis of the company’s strategic direction and financial health.
The reported changes reflect Angi’s ongoing efforts to adapt its executive team to the company’s operational needs and market demands. The information is based on a press release statement from Angi Inc.
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