Enfusion CEO Thomas Kim Resigns, Names Interim Replacement; Backs Sales Outlook

(RTTNews) - Enfusion, Inc. (ENFN), a provider of cloud-based investment solutions, said on Monday that it Chief Executive Officer Thomas Kim has resigned.

Subsequently, the company has appointed one of its directors Oleg Movchan as Interim CEO, with effect from August 21. The board is on the look out for a permanent replacement.

Movchan is also an Enfusion investor for over a decade. Throughout his career, he has held numerous executive leadership positions across various investment management organizations.

In connection with the CEO search and transition, Enfusion anticipates incurring associated costs beginning in the third quarter, which will materially impact adjusted EBITDA.

Separately, for the third quarter and fiscal 2022, the company has reaffirmed its outlook.

For the next-quarter, the company still expects its to revenues to be in the range of $38 million to $39 million. Analysts, on average, expect the firm to report sales of $38.6 million.

For the full-year, Enfusion continues to project total revenues of $149.3 million to $152.3 million. Analysts, on average, expect the company to report sales of $150.73 million.