Latest news with #CEOChange
Yahoo
2 days ago
- Business
- Yahoo
Searching for FTSE 100 shares to buy ‘on the dip'? Here's one that's worth a serious look
The market dislikes nothing more than uncertainty. So, on news that CEO Rob Perrins is to leave the role, it's no surprise that The Berkeley Group (LSE:BKG) is one of the FTSE 100's worst performing stocks in the past 24 hours. In a release on Friday (20 June), the housebuilder announced the long-standing chief executive will move over to become chair on 5 September. He will replace Michael Dobson, who has held the role for the last three years. The merry-go-round will also see Richard Stearns, Berkeley's chief financial officer since 2015, take over from Perrins in the autumn. Regarding Stearn's appointment, Berkeley was upbeat, commenting that the incoming CEO Has a strong understanding of the industry and Berkeley's business model. His appointment will uphold Berkeley's longstanding tradition and preference for promoting from within which maintains the culture and values of the organisation and provides continuity and stability for the Company, our people and shareholders Yet, it's not surprising investors' nerves are rattled by the departure. Perrins has been chief executive for 16 years. The change is especially sensitive as it comes just after the company launched its Berkeley 2035 10-year growth strategy in December. Berkeley's share price sank 8% on the news. Has the market overreacted, though? As with all chief executive appointments, only time will tell. What's encouraging, however, is that Berkeley's new chief executive is another company veteran. Stearns first joined the business in 2002, and he understands the company inside and out. Indeed, Stearns' journey echoes that of the man he is set to replace. Perrins held the role of CFO for eight years before becoming chief executive in 2009. On top of this, Stearns is taking over amid signs that the housing market is on course for a strong and sustained recovery. Berkeley's full-year financials, also released Friday, showed revenues rise 0.9% in the 12 months to April. Property deliveries (including joint ventures) increased to 4,329 from 3,927 the prior year, while average asking prices dropped to £593,000 from £664,000. Pre-tax profits dipped 5.1%, however. But things could be looking up for the FTSE builder as buyer affordability improves. Three-quarters of sales have already been secured for the new year, it said yesterday. And despite the poor outlook for the UK economy, reservations could keep climbing if (as expected) falling inflation prompts the Bank of England to keep slashing rates. Following Friday's price drop, Berkeley shares offer attractive value for money in my view. Its price-to-book (P/B) ratio of 1.1 times sits just above the conventional value watermark of one. But this is still well below the company's 10-year average of around 1.6. There are risks given the change of chief executive and the broader economic environment. But I feel it's still a strong FTSE stock to consider as population growth supercharges demand for housing, and its Berkeley 2035 strategy boosts newbuild output and exposure to the white-hot rentals sector. The post Searching for FTSE 100 shares to buy 'on the dip'? Here's one that's worth a serious look appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes href=" better investors. Motley Fool UK 2025
Reuters
09-06-2025
- Business
- Reuters
T-Mobile US boss set to leave post early, Handelsblatt newspaper reports
FRANKFURT, June 9 (Reuters) - The head of T-Mobile U.S. (TMUS.O), opens new tab, the fast-growing and profitable subsidiary of Germany's Deutsche Telekom ( opens new tab, is due to step aside before the end of his current contract, German newspaper Handelsblatt reported on Monday. Deutsche Telekom did not immediately respond to a request for comment on the report. Handelsblatt reported Mike Sievert, who has headed the mobile operator since 2020, wanted to take a break and that Chief Operating Officer Srini Gopalan, until recently head of Deutsche Telekom's Germany business, was a leading candidate to succeed him. The chief executive would step down this year or next, the newspaper added. Previously facing troubles, T-Mobile has become a revenue and profit driver in recent years. Thanks to strong figures from the U.S. mobile operator, Deutsche Telekom has raised its earnings targets several times. T-Mobile U.S. customer growth fell short of expectations at the beginning of the year due to an intensified price war. The subsidiary nonetheless aims to win 5.5 to 6 million new users by 2025. Sievert, who joined T-Mobile as marketing head in 2012, had been due to remain in post until 2028.
News.com.au
09-06-2025
- Business
- News.com.au
‘Best to pivot and move on': John Kanga announces removal of Tom Reilly as CEO of Melbourne Racing Club
Melbourne Racing Club chairman John Kanga has revealed the sudden removal of chief executive Tom Reilly. Reilly, the former Thoroughbred Breeders Australia and Aushorse chief executive, joined the MRC in January. 'Sometimes it just doesn't work out,' Kanga said in a statement on Monday night. 'Tom was only CEO for three months and when things don't go as well as they should, it is best to pivot and move on.' • PUNT LIKE A PRO: Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet's team of professional punters at our Pro Tips section. SUBSCRIBE NOW! Kanga has appointed Tanya Fullerton, vice chairman of the Thoroughbred Racehorse Owners' Association, as chief operating officer. Fullerton has more than 30 years of corporate, racing and administrative experience. 'Everyone can be assured that we have put a management structure in place to ensure a smooth transition,' Kanga said. 'Tanya has an excellent reputation and deep experience and relationships across the racing industry.' Reilly's departure comes in a period of relative stability at the MRC, following board room and administrative unrest last year. Kanga last year led a successful take over of the board and quickly went about actioning key election promises, including the retention of racing at Sandown. Kanga also announced that the manager of private training centre Pinecliff would be employed as a consultant 'for the next few months to help us work out the best approach and protocols' to improve the club's race tracks. Originally published as 'Best to pivot and move on': John Kanga announces removal of Tom Reilly as CEO of Melbourne Racing Club
Yahoo
09-06-2025
- Business
- Yahoo
Quantum Computing (NasdaqCM:QUBT) Names Dr. Yuping Huang As Interim CEO
Quantum Computing is experiencing notable changes with the upcoming retirement of CEO Dr. William McGann and the appointment of Dr. Yuping Huang as interim CEO. The company recently secured a subcontract with NASA and sold its EmuCore reservoir computer to a major automaker. These events could have bolstered investor confidence, as evidenced by the 36% rise in Quantum Computing's stock over the last month. This positive movement contrasts with the broader market, where major indexes like the S&P 500 and Nasdaq saw mixed performances in anticipation of US-China trade talks and tariff discussions. You should learn about the 5 weaknesses we've spotted with Quantum Computing (including 2 which are significant). We've found 19 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Over the past year, Quantum Computing Inc. (QUBT) has achieved a remarkable total return of over 1000%, a very large contrast to the 15.2% return seen in the US Software industry and the 8.2% return of the broader US market. This substantial rise in share value underscores a significant investor interest, influenced by recent executive changes and high-profile contracts such as those with NASA and an automaker. These developments potentially enhance future revenue generation, suggesting a possible positive shift in earnings forecasts, despite the company's current unprofitability. However, the enduring challenge remains, as it is not anticipated to become profitable over the next three years. The recent surge in share price has brought it closer to analysts' consensus price target of US$8.50. Interestingly, the current market valuation presents QUBT at a slight discount to this target, implying that there may still be perceived upside potential by some investors. Nevertheless, the company's financial burdens, like growing losses and Nasdaq compliance issues, continue to weigh heavily on its outlook, requiring careful scrutiny for those considering this volatile yet promising sector. Navigate through the intricacies of Quantum Computing with our comprehensive balance sheet health report here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqCM:QUBT. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
Novo Nordisk (NVO) Slides After CEO Departure; Analyst Flags Deeper Strategic Concerns
Novo Nordisk (NVO, Financials) shares fell nearly 4% after the company said CEO Lars Fruergaard Jrgensen will step down. A replacement has not been named. Warning! GuruFocus has detected 1 Warning Sign with NVO. Shares of the Ozempic maker have declined 52% over the past year, compared with a less than 3% drop for rival Eli Lilly (LLY, Financials), which markets the weight-loss drug Zepbound. Novo's leadership change comes amid mounting pressure in the GLP-1 drug space, where Lilly's prescription growth has outpaced Novo's performance. Evan David Seigerman of BMO Capital Markets told CNBC the leadership change won't resolve the company's core strategic issues. He said the company must reevaluate its current trajectory and design a more effective long-term plan. Seigerman's remarks fueled speculation that Novo could pursue acquisitions. Shares of Structure Therapeutics, which is developing oral obesity drugs, rose more than 2% at midday on takeover rumors. Explore Novo Nordisk's historical financials. Track insider trades at Novo Nordisk. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
