By Sam Boughedda
Zoom Video Communications Inc (NASDAQ:ZM) said in a regulatory filing on Friday that it has terminated the employment of President Greg Tomb effective March 3.
Zoom shares are down around 0.7% in early Friday trading, although they fell as much as 2% premarket. The stock is down more than 42% in the last 12 months.
The company said Tomb will receive severance benefits as per his employment arrangements that are payable upon a "termination without cause."
Tomb is a former Google (NASDAQ:GOOGL) executive who had only started at Zoom in June. He had taken a high-profile role at Zoom while at the company, appearing on earnings calls and managing its sales operation.
Some analysts on Wall Street reacted negatively to the news, with Citi stating in a note that it's "hard to read this in a positive light." Meanwhile, Stifel analysts said the move was "surprising."