BUZZ-QXO appoints Novelis’s Dev Ahuja as Chief Financial Officer; stock price drops

November 12 - ** QXO (QXO.N) shares fell more than 1% in pre-market trading, quoted at $13.65

** The building materials distributor has appointed (link) Dev Ahuja as Chief Financial Officer, effective January 2027

** Ahuja previously worked at aluminum solutions provider Novelis, where he has served as Chief Financial Officer since 2016

** He will succeed Ihsan Essaid, who will serve as QXO’s Chief Financial Officer from July 2024

** Essaid will become Vice Chairman, responsible for overseeing mergers and acquisitions and advancing financing activities

** All 18 brokers covering the stock are bullish; the median target price is $21 — data compiled by LSEG

** As of the previous trading session’s close, the stock had fallen 28.4% year-to-date

(To facilitate non-native English speakers, Reuters automatically translates its reports into several other languages. As automated translation may be inaccurate or lack required context, Reuters does not guarantee the accuracy of the translated text; it is provided for reader convenience only. Reuters is not responsible for any harm or loss arising from the use of automated translation functionality.)