Shares of work management software maker Asana (NYSE: ASAN) jumped 5.9% in the afternoon session as markets experienced a boost after data from the Bureau of Labor Statistics revealed that inflation for the month of February 2025 came in better than expected.

The stock of software company Asana (ASAN) has plunged 27% on news that CEO Dustin Moskovitz is retiring. Optimize Your Investment Research

Dustin Moskovitz is retiring from Asana, the software company he founded in 2008. Asana, a task management platform, announced his retirement as part of the company’s fiscal fourth-quarter earnings report, CNBC reported. Moskovitz informed the board he intends to move into a chair role when a new CEO starts.

For its fiscal 2025 fourth quarter that ended on Jan. 31, Asana reported it broke even, up from a loss of four cents per share in the same quarter of the previous fiscal year, on revenue of $188.3 million, up 10% year-over-year. Both figures were slightly above the loss of a penny per share and revenue of $188.1 million expected by analysts.

Asana's CEO and co-founder Dustin Moskovitz announced his retirement, according to CNBC. He will transition to the role of Chair once a new CEO is appointed. The company's fourth-quarter revenue increased 10% year-over-year,