What's Going On With Zoom Video Communications (ZM) Stock Today - Zoom Communications (NASDAQ:ZM)

On February 28, 2023, Zoom Video Communications, Inc ZM terminated the employment of Greg Tomb as the President, effective March 3, 2023.
Tomb will receive the severance benefits payable per his previously disclosed employment arrangements that are payable upon a “termination without cause.”
Zoom said the company is not looking to find a replacement now, a spokesperson told Bloomberg.
The former Alphabet Inc GOOG GOOGL Google executive had taken a high-profile role at Zoom during his short tenure, appearing on earnings calls and overseeing the company’s sales operation.
Tomb reported directly to CEO Eric Yuan, who started Zoom in 2011 and had to build up the business during a pandemic-fueled boom rapidly.
More recently, Zoom has been cutting jobs to deal with softening demand.
On February 27, Zoom said fourth-quarter revenue increased 4% year-over-year to $1.12 billion, which beat consensus estimates of $1.1 billion.
The communications company reported quarterly earnings of $1.22 per share, which beat average analyst estimates of 80 cents per share.
Price Action: ZM shares traded lower by 1.53% at $69.55 premarket on the last check Friday.