Q: Hello Peter and 5i colleagues,
GSY tumbled this morning on news of the departure of their CFO. Can one person make such a difference or are there deeper concerns as well?
Thanks as always for your valuable insighys,
Adel
GSY tumbled this morning on news of the departure of their CFO. Can one person make such a difference or are there deeper concerns as well?
Thanks as always for your valuable insighys,
Adel
5i Research Answer:
Investors always worry when a CFO leaves, but in this case it should not be much of a concern. The CFO is staying until after the Q3 report, so there is nothing nefarious or accounting issues to be concerned with. He is also pursuing an opportunity outside of Canada, so has clearly gotten a career-advancing opportunity. The company will be able to replace him and expects an announcement 'in the coming weeks'. This is not a crisis.