Investors generally aren't fond of C-suite changes in relatively young businesses.

The market often gets worried when a company announces a major change in its C-suite. On news that it was doing just that, on Friday the stock of consumer healthcare company Hims & Hers ( HIMS -9.21% ) was whacked with a more than 9% sell-off by investors. This occurred on a relatively stable day for the broader market, as the benchmark S&P 500 ( ^GSPC 0.01% ) basically traded flat.

Outgoing and incoming

After market close Thursday, Hims & Hers disclosed in a regulatory filing that COO Nader Kabbani had vacated his position. The company added that he did so in order to take up a new advisory role for the company, in which he will, in its words "provide ongoing strategic guidance." He w

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