Kyndryl plummets after flagging financial reporting weakness, CFO exit

Technology services company Kyndryl's KD.N shares fall ~53% to $11.05

Co delays filing report for December quarter, citing material weaknesses in internal control over financial reporting

Says weakness spans FY ended March 2025, Q1 2026 and Q2 2026

KD does not expect impact to balance sheets, income statements, statements of cash flows or equity statements

CFO David Wyshner departs; Harsh Chugh, who is currently co's global head for corporate development and administration and was previously COO, to be interim CFO, effective immediately

Co's global controller, Vineet Khurana, also steps down from role; Bhavna Doegar, senior vice president of Finance and Strategy, named interim corporate controller

KD declined to comment on whether executive changes were linked to its financial reporting review

Reports results for Q3; cuts fiscal 2026 revenue forecast

Up to last close, stock has fallen ~46% in last 12 months