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Bullboard - Stock Discussion Forum Laurentian Bank of Canada T.LB

Alternate Symbol(s):  T.LB.P.H | LAUCF | LRCDF

Financial Services
Laurentian Bank of Canada (the Bank) is a Canada-based provider of financial services to its personal, commercial and institutional customers. The Bank operates in Canada and the United States. Its segments include Personal Banking, Commercial Banking and Capital Markets. The Personal Banking segment caters to the financial needs of retail clients. The Commercial Banking segment caters to the... see more

TSX:LB - Post Discussion

Laurentian Bank of Canada > CEO and Chair Are Out ...
View:
Post by Investing4Life on Oct 02, 2023 9:10am

CEO and Chair Are Out ...

Anyone heard from analysts on this?
Theories on what this might mean?
Comment by DeanEdmonton on Oct 02, 2023 10:12am
Pretty clear what it means. After another 3 years of "Strategic" turnaround, performance is still poor with low growth, poor efficiency ratio, poor return on capital and a middling set of capital ratios. Place operates so poorly no one wanted to buy the Bank as a going conern, for a reasonable price. At best some might have been interested in buying the loans and depositis, but certainly ...more  
Comment by Investing4Life on Oct 02, 2023 10:20am
I hear you. I am wondering if the new team is more motivated to sell than the old one. And whether we will get any insight on that this week.
Comment by winnerswing on Oct 02, 2023 2:05pm
I am extremely tempted to buy at these almost 20 years low levels. I used to own it but I divested all.  I dunno, I do not like the performance, but 28$ starts to be interesting. Let us see if we could buy lower...
Comment by perplexed01 on Oct 03, 2023 4:32pm
if the oct '20 support holds ~$26 I will definitely add.
Comment by rad10 on Oct 02, 2023 6:55pm
  pretty clear the majority of the board wasn't happy.  Immediate dismissal of CEO with former chair of the board also axed. I should imagine the original suitor will be approached.  Description of the Montreal connection in the bio - suggests Desjardins and National may be in play.
Comment by RayDonovan78 on Oct 04, 2023 2:44pm
Looks good on them, Thought they would take the easy way out and try to sell this TURD. It blew up in thier face big time.
Comment by Investing4Life on Oct 05, 2023 7:16am
Globe and Mail reporting that the chair wasn't axed. Rather, he resigned in protest over the firing of the CEO.
Comment by rad10 on Oct 10, 2023 6:26am
Difficult to know how much jumping and how much pushing went down. They have brought in one of their better longer term executives as CEO, and the guy who now chairs the board was behind the strategic review. Extremely naive to hang the "for sale" sign up in public - but the guys motivated to get a deal done are running the show now. What a sh!tshow.................  
Comment by DeanEdmonton on Oct 11, 2023 10:25am
rad10 - When the Board Chair resigns in protest it was all shove and no jump getting rid of the CEO. The pro sale faction may well be in control, but that doesn't mean anyone wants to buy anything other than the loans and depsoits. Anyone holding out hope of a sale anywhere near book value, is going to be sorely disappointed.
Laurentian Bank of Canada