Zscaler (NASDAQ:ZS) stock is sliding lower on Monday as investors react to the sudden resignation of Chief Operating Officer Dali Rajic.

Rajic is leaving Zscaler without a transition period and only shortly after taking on the role of COO at the company. He also has a long history with the business, making his sudden departure even more unexpected.

Investors in ZS stock will also note that Zscaler doesn’t yet have a replacement for Rajic ready. The company is already working to find a replacement COO following the former’s departure.

While Zscaler didn’t address this in its announcement, Rajic has left the company to take on a job with cybersecurity startup Wiz. This has him taking on the roles of President and COO at this company.

How This Affects ZS Stock Today

With the news of its COO departing comes a dip in value for ZS stock. That comes alongside some 1.2 million shares changing hands. This is closing in on the company’s daily average trading volume of about 2 million shares.

ZS stock is down 5.8% as of Monday morning but is still up 8.2% since the start of the year.

Investors who are searching for even more of the most recent stock market stories today will want to keep reading!

We have all of the hottest stock market coverage that traders will want to read about on Monday! Among that is what’s going on with shares of Estee Lauder (NYSE:EL), Nikola (NASDAQ:NKLA) and Palantir (NASDAQ:PLTR) stock today. You can check out the following links to catch up on all of these stories!

Stock Market News for Monday

• Estee Lauder Layoffs 2024: What to Know About the Latest EL Job Cut
• Why Is Nikola (NKLA) Stock in the Spotlight Today?
• Why Palantir (PLTR) Stock Is Chugging Higher Ahead of Earnings

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.