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YETI Holdings, Inc. (NYSE:YETI) announced the resignation of Chief Financial Officer Paul Carbone on Friday, effective October 28, 2022.
The company said Carbone is stepping down to return to Boston and pursue a business opportunity.
“Paul has made an indelible contribution to the organization during his tenure and was instrumental in guiding YETI through our initial public offering in 2018,” said Matt Reintjes, President and CEO of YETI.
Following the announcement, Stifel analyst Jim Duffy said the firm is “disappointed to see him move on from YETI and expect his departure to create uncertainty that weighs on shares.”
“Notably, this news was announced without reiteration of FY22 guidance. We look for the company to attract a seasoned financial professional with experience overseeing a business with supply chain and global complexity,” added Duffy, who kept a Hold rating and $43 price target on the stock.
YETI shares are down 4.5% Friday at the time of writing.