Udemy, Inc. ( UDMY ) shares are trading lower on Wednesday following the announcement of leadership changes within the company.

Hugo Sarrazin has been appointed as President, Chief Executive Officer, and a member of the Board of Directors, effective immediately.

Sarrazin succeeds Greg Brown, who is stepping down after four years at the helm of Udemy ( UDMY ). Brown will remain with the company as a non-executive advisor until the end of the year to facilitate a smooth leadership transition.

Sarrazin previously led international product and technology teams at UKG, a Human Capital Management cloud company. Prior to UKG, Sarrazin spent nearly 27 years at McKinsey & Co., where he managed McKinsey's business technology practice in Silicon Valley.

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In addition to the leadership change, Udemy ( UDMY ) reaffirmed its financial outlook for the first quarter and full year 2025.

The company expects first-quarter revenues between $195 million and $199 million ($201.37 million), with adjusted EBITDA ranging from $17 million to $19 million.

Full-year revenues for 2025 are projected to be between $787 million and $803 million (street view: $807.20 million), with adjusted EBITDA expected to reach $75 million to $85 million.

Price Action: UDMY shares are trading lower by 4.75% to $8.725 at last check Wednesday.

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