Why Are eXp World Shares Plunging Today?

eXp World Holdings Inc EXPI shares are plunging after the company announced that Chief Financial Officer Jeff Whiteside is stepping down.

The company, which is the holding firm for eXp Realty, Virbela and SUCCESS Enterprises said a search process has been initiated to identify Jeff’s successor.

Whiteside will remain with the Company through Dec. 1, 2023 to support the transition. 

The company and its Board of Directors will work with an external search firm to identify its next CFO.

In the interim, Kent Cheng, eXp World Holdings Chief Accounting Officer, will assume the role of Principal Financial Officer until a CFO has been named.

Price Action: EXPI shares are trading lower by 6.58% at $89.96 on the last check Thursday.