TAL Education Group (TAL) saw its stock price plummet by 5.06% in Monday's trading session, following news that its former Chief Financial Officer, Joe Kauffman, has been appointed as the new CFO of payroll startup Deel. This move comes as Deel prepares for a potential initial public offering (IPO) as early as next year.

Kauffman, who previously helped take TAL Education Group public, brings significant experience to his new role at Deel. His departure from TAL to a high-profile position at a rapidly growing startup may have sparked concerns among investors about TAL's ability to retain top talent. The market reaction suggests that Kauffman's expertise was highly valued, and his move to Deel could be seen as a loss for TAL Education Group.

The announcement of Kauffman's new role at Deel, which was valued at $17.3 billion in a recent fundraising round, may have also shifted investor attention away from TAL Education Group. As Deel gears up for a potential IPO, the involvement of a former TAL executive in this high-profile venture could be contributing to the negative sentiment surrounding TAL's stock. Investors will be closely watching how TAL Education Group responds to this leadership change and whether it will impact the company's financial strategy moving forward.