ZM’s top numbers guy resigned JUST when Zoom posted monstrous numbers? Any fishy smell?
Not nearly as fishy as the smell of a person with one post coming onto this board and making this post.
Yesterday must have been a tough day for your client’s short position.
The top numbers person at ZM is a lady, CFO Kelly Steckelberg.
Who are you referring to? -K
From the SEC document:
On August 26, 2020, Roy Benhorin, Chief Accounting Officer of Zoom Video Communications, Inc. (the “Company”) notified the Company of his decision to resign from the Company effective October 16, 2020. Mr. Benhorin’s resignation is not a result of any disagreement with the Company’s independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure or internal controls.
On August 30, 2020, the Company’s board of directors appointed Shane Crehan, age 46, to serve as the Company’s principal accounting officer, effective September 21, 2020. Mr. Benhorin will remain the Company’s principal accounting officer until the effective date of Mr. Crehan’s appointment. Mr. Crehan most recently served as Chief Accounting Officer of Eventbrite, Inc. from January 2019 to September 2020. [ … ] There is no family relationship between Mr. Crehan and any of the directors or executive officers of the Company.
What the CAO v. CFO positions represent, relative to each other, I found this: “The CAO is in charge of all things within the accounting department of a company, especially the day-to-day operations. The CFO is the highest financial position in the business and manages things like budgets, forecasts, credit, taxes, and insurance.” ( https://www.ziprecruiter.com/e/What-Is-the-Difference-Betwee…. )
This was clearly preplanned and known in advance to the company or they would not have been able to hire the new CAO away from another company in just a couple of days. Executive searches at this level take weeks, months even.