Supremex Inc T.SXP

Departure of the CFO

[pagoda3x]

The departure of the CFO is often a bad omen, a harbinger of bad news to come (fraud, embezzlement , incorrected numbers etc)
I will sell my shares tomorrow morning

[Capharnaum]

How often is it a "bad omen"? For the record, usually when there are shenanigans, the CFO quits before the results get released. He participated in the conference call less than 2 weeks ago.

[CougerMilk]

Perhaps different views on direction for the company post-CV19, eg legacy and dividends vs. packaging product investment? Just guessing here.

[mrmoribund]

There would have been far more reason to be troubled by the CFO departure if he had left, say, a month ago, while the year-end audit was ongoing. Indeed, that would have been a classic bad sign. As it is, there are all sorts of sensible reasons why he might move on. Many CFOs dream of someday becoming a CEO. Maybe Prenevost got his chance. Maybe he wanted to move his family to a different city

[mrmoribund]

With the stock currently down to $2.20 some people clearly ARE selling on the news of the CFO departure. It may be that he really was effectively fired. But even if that were the case I see little reason to view the matter negatively. There's no indication that the year-end audit was delayed or that it involved above-normal audit costs. Meanwhile, one of the signs of a good board is that it

[divime1]

Relax . People change jobs all the time . He is most likely going to a larger company .  He isn't leaving until March 19 .   People who did something wrong or get fired are escorted  from the building immediately . They don't hang around for weeks . 

[Capharnaum]

Volume for the day was 184k shares (value of approx $400k), or 0,6% of outstanding shares. Just for comparison, volume was 530k on feb 25th 2022 after the results. The share price moves on relatively small volume, I wouldn't link it to "the market". Probably small holders selling on news.

[microcaphobby]

I would not read anything negative in this. It is possilb that the compnay is gong private or being bought out and the cfo figured he should move on now.  The company bought back shares last week. That is a good sign and hardly likely if they thought some bad news was in the works. Commnaies buy back shares if they think they are undervalued