Chegg Appoints David Longo as Chief Financial Officer
SANTA CLARA, Calif. – Chegg, Inc. (NYSE: CHGG), the leading student-first connected learning platform, has recently announced the appointment of David Longo as its new Chief Financial Officer, effective February 21. Longo, the current Vice President, Chief Accounting Officer, Corporate Controller, and Assistant Treasurer at Chegg, will replace Andrew Brown, who retired in the fall of last year after more than 12 years of service to the company.
Chegg Inc achieved a return on average invested assets (ROI) of 0.52% in its third quarter of 2023, which exceeds the company’s average return on investment of -3.93%. However, despite this positive development, the ROI decreased compared to the period ending June 30, 2023, primarily due to a decline in net income.
In its sector, Chegg ranks lower than 300 other companies, highlighting the challenges it faces in maximizing return on investment when compared to peers. The total ranking of Chegg’s return on investment has significantly worsened from 645 in the second quarter of 2023 to 2395.
David Longo, with his vast experience as the Vice President, Chief Accounting Officer, Corporate Controller, and Assistant Treasurer at Chegg, is deemed the ideal candidate to spearhead the financial operations of the company. This appointment comes at a crucial time when Chegg aims to navigate its path towards delivering more substantial returns on investment in the future.
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