Kyndryl plummets after flagging financial reporting weakness, CFO exit

Kyndryl Holdings

09/02/2026 15:13

Updates

** Technology services company Kyndryl's KD.N shares fall ~53% to $11.05

** Co delays filing report for December quarter, citing material weaknesses in internal control over financial reporting

** Says weakness spans FY ended March 2025, Q1 2026 and Q2 2026

** KD does not expect impact to balance sheets, income statements, statements of cash flows or equity statements

** CFO David Wyshner departs; Harsh Chugh, who is currently co's global head for corporate development and administration and was previously COO, to be interim CFO, effective immediately

** Co's global controller, Vineet Khurana, also steps down from role; Bhavna Doegar, senior vice president of Finance and Strategy, named interim corporate controller

** KD declined to comment on whether executive changes were linked to its financial reporting review

** Reports results for Q3; cuts fiscal 2026 revenue forecast

** Up to last close, stock has fallen ~46% in last 12 months

 (Reporting by Anhata Rooprai in Bengaluru)

 ((Anhata.Rooprai@thomsonreuters.com))