After Hours/1st Quarter ResultsAfter hours up 2.5% on 118K volume maybe due to Aphria's results.
I don't expect much good news on their 1st quarter results. The quarter was still on Bruce's watch and he would have been still giving away stock options like smarties to a fat kid. Expenses should also be high as usual, but I would expect some good news on the revenue numbers and we could see very close to $100 million.
I think we get an announcement of the new CEO at the earliest a month from now. It should be at least a 2 month process from the time Bruce was let go. The Board would put together the qualifications needed of the new CEO, hand it over to a head-hunter firm (STZ would have one already on retainer given their size), the search process where they contact specific qualified individuals to guage their interest and then come up with a short list of about 4-6 for the Board to interview. Then further short list it to 2 for final interviews. I'm sure STZ Board members already had a few individuals in mind given that the process to let Bruce go was months in the making.
The one thing that may hold up the process is if the potential CEO is currently employed, then he/she will have a specific notice period as part of their contract, but sometimes that gets waived by mutual consent. If the new CEO is announced soon, then we will know the fix was in early and STZ already had the CEO in mind before they let Bruce go?
GLTA