Upwork Inc. (NAS:UPWK) said late Monday its chief executive will be stepping down at the end of the year and be succeeded by its chief marketing and product officer. Upwork said President and CEO Stephane Kasriel will step down and that Hayden Brown will succeed Kasriel, who will remain as an adviser and serve on the board until the company's annual shareholder meeting in 2020. The company reaffirmed its fourth quarter and full-year outlook. Analysts surveyed by FactSet expect a loss of 2 cents a share on revenue of $79.4 million for the fourth quarter, and a loss of a penny a share on revenue of $301.4 million for the year. The move comes a little over a year following the freelance personnel placement company's IPO in October 2018. Upwork shares rose 0.5% after hours, following a 1.5% decline to close the regular session at $11.15.
Dec. 9, 2019, 5:33 p.m. EST