Old PSG Wind-Down Ltd PSGLQ

Stock Halted - Pending News

[ok2buy]

New CEO for PSG, name eludes me, former CEO from Yankee Candle. Company also re-adjusts earnings for last year. Will be an interesting open tomorrow./ok2

[kennethjw]

Not sure what the market is reacting to ... the negative EPS guidance, the new CEO, or both! Harlan Kent - former boss of Yankee Candle and Alex and Ani.  This is what Alex and Ani had to say when they hired him in March 2015: "Mr. Kent is a seasoned executive with nearly 30 years of experience working in consumer focused public and private businesses, with a proven track record of

[88guy88]

Its the experience contacts and knowledge that is important the the CEO has all three....so who cares if its candles or widgets or sports stuff......its just marketing and sales and balance sheet control....

[theWizzz]

I tried to do a cross-reference check in regards to the links between this new ceo and Sagard... 1. I can't find any alumni relationship between him and any of the Desmarais family members 2. I could not find any investments (direct or indirect) between the investment arm of the Desmarais family and any companies he has worked for in the past. If someone does find a connection...  

[theWizzz]

Bingo... With this article...   the Bain link is crystal clear! https://www.nytimes.com/2010/12/26/jobs/26boss.html

[theWizzz]

he was also an "Undercover Boss"... https://www.exeter.edu/news_and_events/news_events_14235.aspx

[theWizzz]

Harlan Kent was CEO of Yankee Candle when the company was sold to Jarden for 1.75 Billion (cash)...  He then left Yankee Candle 8 months later! My educated guess...  He was hired to reduce costs and set-up the company for a takeover --- just like he did with Yankee Candle. However, he didn't have this much debt hanging over his head when he was at Yankee Candle.

[kennethjw]

Sure, but why do you suggest he has all three? He is coming from a company (Alex and Ani) that has a psychic and astrologer on its Board of Directors.