Asana CEO Dustin Moskovitz announces retirement, stock price drops 25%

Core Insights - Dustin Moskovitz, CEO of Asana and co-founder of Facebook, is retiring from Asana, with plans to transition to the role of Chair once a new CEO is appointed [1][2] - Asana reported a 10% year-over-year increase in fourth-quarter sales, reaching $188.3 million, aligning with analyst expectations [2] - The company's adjusted earnings per share for the fourth quarter were breakeven, surpassing analyst predictions of a one-cent loss per share [3] - Asana's projected revenue for the fiscal first quarter is between$184.5 million and $186.5 million, which is below analyst expectations of$191 million [3] - Following the earnings report, Asana's stock price fell over 25% in after-hours trading [3]