Bumble shares fall after founder Whitney Wolfe Herd announces impending return as CEO

Company Leadership Changes - Bumble founder Whitney Wolfe Herd will return as CEO in March, replacing Lidiane Jones, who steps down after a tenure marked by a nearly 50% decline in the company's shares [1] - The company announced the departure of CFO Anu Subramanian, who played a key role in its 2021 IPO, and marketing head Selby Drummond [3] - Lead director Ann Mather has been appointed as chair of Bumble's board [3] Financial Performance and Forecasts - Bumble expects to exceed its Q4 revenue forecast, with projected revenue between $256 million and$262 million and adjusted core profit between $70 million and$73 million [4] - The company's shares closed down 1.6% at $7.70 [3] - Bumble experienced its first decline in quarterly sales since going public in 2021, signaling slower growth [6] Industry Challenges - Sticky inflation and a lack of major new features have impacted growth across the dating app industry, including larger rival Match Group (owner of Tinder) [2][6] - The post-pandemic boom in dating apps has slowed, leading to executive shake-ups at companies in the sector [2] Product and Market Strategy - Bumble launched a refreshed app and new features last year, but these efforts have yet to gain significant traction, particularly among Gen Z, a key demographic for advertisers [6]