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)
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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...
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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
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