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Hippo Holdings (NYSE: HIPO) was a bit of a clumsy beast on the market Tuesday. Rocked by a big change in the C-suite, the next-generation insurer saw its share price close more than 4% lower on the day.
Just after the market closed on Monday, Hippo announced that its founder, Assaf Wand, is no longer its CEO. Wand has been replaced by Richard McCathron, the company's president and a member of its board of directors.