Keyword results: CEO resign

Bonhill – trading update, fundraise for working capital or to avert cash crunch ahoy?...

Previously writing on B2B media group Bonhill (BONH), in July with the shares falling below 13p I concluded that, with much near-term recovery needed to meet forecasts, only on my watchlist. Today a “Directorate changes, Fundraising & Trading Update” announcement – and the shares currently further lower to 5.5p.

FAB
FAB

Fusion Antibodies – CEO has now left after little more than a year… and who’s the successor then?

On 21st February Fusion Antibodies (FAB) announced the resignation of CEO Richard Jones, though stating “Richard will remain with the company while arrangements are put in place for his successor. The board has initiated a formal search for a new CEO”. It has today announced that “Richard Jones has now stepped down from his role as CEO, effective from 11 March 2022”. Who’s the successor then?…

TON
TON

Titon – from CEO “has settled in very well” to CEO resignation in 2 months!

Ventilation systems and window and door hardware company Titon Holdings (TON) announced in September that non-executives Bernd Ratzke and Kevin Sargeant had given notice of their intention to step down, noting that it “is going through a transitional period following the appointment of Mat Norris as CEO. Matt has settled in very well and will lead the group in the next stage of its development to drive growth in all of our businesses”. Today… “Chief Executive Officer resignation”!

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Why has the Burberry CEO decided to leave?

To be honest I did not think that today would be that exciting on the global stock markets. Certainly that has been the case for the vast majority of shares that I own or follow…with the exception of British luxury fashion house Burberry (BRBY), whose shares are down over 7% as I write. So why the big fall?

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GVC
GVC
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Still gambling on GVC despite the CEO exiting stage left

I do gamble a little bit. No jokes about this being the norm for any investor! But I do have the odd wager. The late Spurs winner against the Gooners a few days back hurt at a fan level, but given it pushed the number of goals above 2.5 it led to a nice wager win. Still...2-1 to Arsenal yesterday evening! My biggest gambling sector position for a couple of years now has been GVC Holdings (GVC)...

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SHI
SHI
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Only Oscar Wilde understands SIG plc

In my estimations for all the love given to the utterances of Warren Buffett, investors would be even better served by mixing up the thoughts of the Sage of Omaha with the wit of Oscar Wilde. This is because reading today's regulatory news offering by building products company SIG (SHI), I was reminded of the latter's line that 'to lose one parent may be regarded as a misfortune; to lose both looks like carelessness'…

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Staffline – litany of woe continues as CEO follows CFO, auditor & others to the exit

Recruitment and training company Staffline (STAF) has announced CEO Chris Pullen has “tendered his resignation to the board”. It seeks to reassure that he will “continue… during his notice period in order to facilitate an orderly succession and maintain business continuity”, that “the board's outlook for 2020 remains unchanged” and that it “expects to reach agreement with respect to revised terms that will remove the risk of covenant issues and ensure that the company retains sufficient liquidity headroom”. The shares are though still lower, below 45p…

Accesso Technology – “the premier technology solutions provider”… trying to fool you or fooling itself?

Shares in self-styled “the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets”, accesso Technology Group (ASCO) were already down from circa 3000p reached in 2018 and more than 1000p as recently as August to 445p – but are currently down further to around 350p on the back of “End of Formal Sale Process and Trading Update” and “Intended Changes to Board Composition” announcements…

XAR
XAR

Xaar – I having consistently warned… now dire results announcement & to be mass boardroom change

I first cautioned on inkjet printing technology company Xaar (XAR) with the shares rising above 800p in 2013, and have consistently warned since – most recently earlier this month here. Now “2019 Interim Results” and “Board Changes and Succession” announcements – and the shares currently approaching 40% lower on the back of them, to around just 42p!...

SEE
SEE

Seeing Machines – “Senior Leadership Transition”. So orderly then?

“Senior Leadership Transition” announcement from computer vision technology company Seeing Machines (SEE). So orderly then? Announced intra-day at 1:03pm. Hmmm…

VEL
VEL

Velocity Composites – following less than 16 months since AIM IPO warns AGAIN… now CEO & CFO go

“Directorate Changes” announcement from Velocity Composites (VEL), including “as a founder of the company Jon is fully committed to Velocity and feels it is the right time to hand over the CEO responsibilities”. Hmmm…

ECSC Group – ‘Board Changes’ from what is another tale of AIM IPO shame. Good news then? Er…

Writing on 2017 results from cyber security group ECSC (ECSC) last month I noted a significantly increased loss as planned investment was delivered but the planned growth not and a fast-depleting balance sheet. Today a “Board Changes” announcement. Good news then? Er, the shares have currently responded a further 25% lower on the day, to 75p…

Gattaca – not mentioned with director share sale & then a “Statement re Share Price Movement” 3 weeks ago… but now a profit warning, dividend cut (& CEO resigns)!

On 17th January Gattaca (GATC) noted “the recent share price fall” and responded that there would be a “minimal” impact of Carillion's liquidation on its balance sheet and that a “trading update for the six months ended 31st January will be released 8th February 2018”. However, at 2:30pm yesterday there were Trading Update and Directorate Change announcements. Hmmm…

IND
IND

IndigoVision – profit warning update, how’s the broker reacted?

Writing on results for the first half of 2017 from IndigoVision (IND) I concluded that there continued to look value, but that I was wary of the second half reliance and that the profit forecast looked ambitious. There’s now been a “Trading update and Board changes” announcement including “it is now clear that management's expectations will not be achieved and that a full year operating loss will be reported” and that, after 14 years service, “Marcus Kneen has resigned from the board and has ceased to be Chief Executive Officer with immediate effect”. Hmmm…

Proxama – from having “the right products” to sale of division in little more than 6 weeks!

In September Proxama (PROX) was emphasising “the board is now of the single view we have the right board and executive team, the right cost structure for both divisions, and the right products either in market or in development”. Today it “is pleased to announce the sale of its Digital Payments division”. You what?...

Goals Soccer Centres – a month after interim results disappointment, “directorate change”

Following a 12th September interim results announcement which saw me consider it clearly tough operating conditions and (further) forecast downgrades ahoy, Goals Soccer Centres (GOAL) has now made a “Directorate Change” announcement…

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