Kogan.com CFO, COO David Shafer Plans to Step Down; Shares Fall 16%

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Kogan.com (ASX:KGN) said CFO and COO David Shafer plans to step down from his roles after 16 years with the company, according to a Monday filing with the Australian bourse.

Shafer has a six-month notice period under his contract, but has indicated that he is prepared to remain with the company for a longer period to hep deliver certain objectives and ensure a smooth transition, per the filing.

The company's board is in discussions with Shafer over a retention arrangement, it said.

Kogan.com shares fell nearly 16% in recent Monday trade.

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