Q: What do you think about the decision to have the CEO step down and be replaced by the end of the year?
5i Research Answer:
We think the move in the stock is a bit overdone, particularly given no change in guidance. Sicard has been running the company for over 10 years now. The transition is a bit quicker than what might be ideal but it does not happen until the end of year and the CEO will remain with the company to some degree. Sometimes as a company shifts to a more larger/enterprise/global type of company, it can demand a different set of skills/leadership than what got the company to the current point.