Federation board fires CEO

Intelligent Investor

Independent Financial Research

Two months after completing its merger with Novion Property Group, Federation Centres (ASX: FDC) surprised investors earlier this week by announcing the sudden departure of ceo Steven Sewell. His replacement is former Novion ceo Angus McNaughton. Federation shares have declined 5% since then, suggesting investors aren’t happy with the change. Putting aside potential corporate governance and legal issues – for instance, Steven Sewell was named in the merger documents as the ceo of the merged group – is the change really as bad as the share price decline suggests? (VIEW LINK)


2 topics

Intelligent Investor
Independent Financial Research

Intelligent Investor is an independent financial research service with a 14-year history of beating the market. Our value investing approach empowers Australians to make more informed decisions to build their long-term wealth. We off structural...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.