Coupang (CPNG) Stock Dips as CEO Exits Amid Data Breach Scrutiny
Coupang shares edged lower following the departure of interim CEO Harold Rogers, who left South Korea amid a probe into a massive data breach affecting 33 million users. The e-commerce giant faces regulatory scrutiny and potential leadership uncertainty, weighing on investor sentiment.
South Korea's privacy laws, known for modest penalties, may see stricter enforcement as authorities examine the breach. The incident has sparked heightened demand for cybersecurity services across the country, with identity monitoring and breach response solutions gaining traction.
Rogers, who testified at a parliamentary hearing before his December 31 departure, missed a scheduled January 5 questioning. Police have requested notification of his return, with a potential travel ban looming to ensure compliance with the ongoing investigation.
