Bang & Olufsen lowers expectations for the current fiscal year. The company has, among other things, a store on Østergade in Copenhagen. Photo: Liselotte Sabroe/Ritzau Scanpix
Bang & Olufsen stock drops after CEO firing
By the market’s close on Wednesday at 17:00, Bang & Olufsen’s stock had dropped nearly 12.5%. The company announced in a stock exchange release that Kristian Teär, CEO since 2019, was fired immediately. They also downgraded their revenue growth forecast for the year from between 1-8% to 1-5%....
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