RE:RE:You’re telling me Fernandes handing off because of bad ER?Amex2639 wrote:
Just when he got his act together and stopped firing or forcing high level talent out realizing that such turnovers may satisfy ones ego but are not good for business, he decided to sort of fire himself. I don't know if the timing is right but perhaps it may be if the earnings are good which would wipe out this blow.
It's also conventional to release a 'kitchen sink' quarter when changing out CEOs so the new CEO can start with a clean slate and to minimize the probability of bad news or write-downs in the future. That's kind of what I'm worried about -- that a 'kitchen sink' quarter is going to be released in November. Even though short-term volatility is possible, I think long term prospects are bright with Mr. Henderson as the new CEO so I'm going to continue to hold.