Q: Thoughts on the recent news?
5i Research Answer:
This morning CSU announced the resignation of Mark Leonard for health reasons, effective immediately. Mark Miller (COO) will be stepping into the President role. Mark Leonard will remain as a director on the board. It does sound like a health related issue, given the press release, unfortunately, and not related to the company itself.
Regardless, markets will not like the news but we would not make any changes here at this stage. CSU has become a large company and they have built a solid team behind Leonard over the years and realistically, not a whole lot is likely to change operationally.