Laurentian Bank of Canada T.LB

CEO and Chair Are Out ...

[Investing4Life]

Anyone heard from analysts on this?
Theories on what this might mean?

[DeanEdmonton]

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

[Investing4Life]

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.

[winnerswing]

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...

[perplexed01]

if the oct '20 support holds ~$26 I will definitely add.

[rad10]

  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.

[RayDonovan78]

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.

[Investing4Life]

Globe and Mail reporting that the chair wasn't axed. Rather, he resigned in protest over the firing of the CEO.

[rad10]

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.................  

[DeanEdmonton]

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.