Laurentian Bank of Canada T.LB

About time

[carlocarli]

Does this mean that the transfer to the new business model will be interrupted?

https://www.lapresse.ca/affaires/2020-06-15/depart-du-pdg-de-la-banque-laurentienne

[DeanEdmonton]

Pretty clear he got ousted. The fact they don't have a replacement lined up says he left much earlier than planned. Given their lousy performance and how poorly the "transformation" has gone I am not suprised. The problem is, most of their executive ranks are made up of long term employees. They really need to shake the place up and get some high quality fresh talent into the senior

[RayDonovan78]

This is great news and yes about time......The dividend cut was the last straw......Hopefully the door hit him in the a$$ good and hard.

[Northforce13]

I'd argue that this is all symptoms of the problem, which is the presence of a union. LB's ROE has lagged other banks for decades, and in my opinion that is the reason. Other banks might be very reluctant to acquire LB because doing so might import the union, which would be like injesting cancer.  Any acquisition would have to get rid of the union, which I do not see as feasible