REIT Fermi's shares fall after announcing CEO, CFO departure

Fermi

20/04/2026 11:57

** Shares of data center real estate investment trust Fermi FRMI.O down 19.6% at $5.26 premarket

** Firm says co-founder Toby Neugebauer to step down as CEO; Miles Everson resigns as CFO

** Names lead independent director Marius Haas as chairman of the board following Neugebauer's exit

** Says Everson to remain on the board, adds that it is in talks to appoint an interim CFO

** Appoints former COO Jacobo Ortiz Blanes and board adviser Anna Bofa as co-presidents while it searches for a new CEO

** As of last close, FRMI down 18.1% YTD

 (Reporting by Tharuniyaa Lakshmi in Bengaluru)

 ((tharuniyaa@thomsonreuters.com))