Robert G. Pedersen II has stepped down as CEO and chairman. ZAGG president and COO Randall Hales has been appointed interim CEO by the board, and Cheryl Larabee has been appointed to serve as chairperson of the board, effective immediately.
Pederson sold 515,000 shares of ZAGG stock, or $4,234,021 worth, as noted in an SEC Filing today.
ZAGG reiterates FY12 revenue guidance of $256M, consensus $260.15M ; reiterates FY12 adjusted EBITDA guidance of $56M-$61M.
ZAGG dropped about 5% in the after market.
It appears there is more to the story than meets the eye. We will be digging.
What to do now?
Those in the stock may continue to hold.
Those not in the stock may wait for a signal on the RTF.
