Australia's Droneshield slumps after US CEO resigns

DroneShield

19/11/2025 02:49

** Shares of Droneshield DRO.AX fall as much as 15.1% to A$2.08, extending losses for a second session

** Stock is the top loser on the benchmark S&P/ASX 200 index .AXJO, which is up 0.1%

** Defense technology firm says its U.S. CEO Matt McCrann has resigned effective immediately

** Announcement comes at a time when co has recently been scaling up its U.S. presence

** DRO did not mention any details of a replacement for McCrann

** Around 26.1 mln shares change hands, 1.1x the 30-day avg volume

** Stock more than doubled YTD, including the day's moves

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))