Diginex Limited (NASDAQ:DGNX) experienced a sharp market reaction after announcing an immediate change in its executive leadership. Lubomila Jordanova, who founded and led Plan A.earth GmbH prior to the acquisition by Diginex, will assume the CEO role with immediate effect. The company said the move is intended to accelerate its European expansion and the integration of Plan A’s capabilities into Diginex’s platform.
Shares fell 15.1% on the announcement, marking the largest single-day decline for the stock in recent months. The drop followed investor surprise at the sudden management change.
Mark Blick, who guided Diginex through its Nasdaq listing in January 2025 and presided over 293% revenue growth during his tenure, will not leave the company. Instead, Blick will transition into a Strategic Advisor position, the company said.
Diginex’s chairman, Miles Pelham, framed the leadership transition as forward-looking, calling it "an exciting new chapter" that he said aligns with the company’s intent to become a top global sustainability technology firm. The appointment comes on the heels of Diginex’s acquisition of Plan A, a business the company said broadens its carbon accounting and decarbonization service set.
"An exciting new chapter" - Miles Pelham, Diginex Chairman
Jordanova brings experience in sustainability technology and climate strategy, having scaled Plan A into a carbon accounting platform with corporate clients that include BMW and Chloé. Diginex said her leadership will focus on integrating Plan A’s tools and on advancing the company’s move from data collection toward what it describes as a "Sustainability RegTech powerhouse."
The company currently provides ESG reporting across 19 global frameworks, supply chain transparency solutions, and AI-driven analytics. With Jordanova at the helm, Diginex outlined plans to strengthen its integrated platform linking regulatory compliance, emissions tracking, and decarbonization pathways.
Market context cited by the company notes an addressable sustainability technology market projected to reach $80-100 billion by 2030. Despite that backdrop and the expanded capabilities from the acquisition of Plan A, investors reacted negatively to the surprise leadership change, driving the stock to its steep one-day decline.
Summary
Diginex replaces its CEO with the founder of recently acquired Plan A to direct European expansion and integration. The move prompted a 15.1% stock selloff, while the outgoing CEO becomes a Strategic Advisor.