C3.ai CEO Ousted, Guidance Withdrawn Amid Legal Woes and Revenue Miss
Summary
C3.ai CEO Thomas M. Siebel steps down amid legal scrutiny and disappointing financial results, with the company missing revenue targets, withdrawing guidance, and its stock plunging 29% over the past year as it faces competitive pressures and allegations of misleading investors.
Key Points
- C3.ai reports missed revenue and profitability, withdraws full-year guidance
- Stephen Ehikian replaces Thomas M. Siebel as CEO amid legal scrutiny over alleged investor misleading
- Stock drops 29% over past year, sharper decline in recent months due to sagging revenue, legal issues, and competitive pressures