So what: On January 20, Lifelock founder Todd Davis announced he will step down as CEO on March 1, 2016, and give way to Hilary Schneider. Davis will stay on as executive vice chairman of the board of directors.
At the same time, the company said it will report full-year 2015 revenue of $586 million to $587 million in revenue and adjusted earnings of $0.62 to $0.63 per share. Both figures were slightly ahead of what analysts were expecting.
Now what: Davis has long been the company's very visible founder, and when a figure like that leaves, it can be a negative in the sentiment for the company. But operationally, it appears the transition to Schneider will be smooth, and results for the fourth quarter should bolster investor confidence. I see this as a short-term dip in Lifelock's stock, and its future looks as bright as it was before Davis announced his resignation.
Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends LifeLock. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.