SharkNinja CFO exit ‘comes as a surprise,’ says Morgan Stanley

After SharkNinja (SN) released a 6-K announcing the resignation of CFO Patraic Reagan, Morgan Stanley said the departure “comes as a surprise” given Reagan’s “relatively short tenure” of less than 18 months. While noting that investors “rarely view unexpected CFO departures positively,” and noting that this is the second executive-level departure this year, the firm was told by the company that Reagan will be taking another role at a U.S. public company that is not a competitor to SharkNinja and “would not read into” the decision not to reiterate guidance in the release. Morgan Stanley has an Equal Weight rating on SharkNinja shares.