Q: Hi,
As per below from Globe Investor, have you heard anything on why other executives have been leaving the company in the past?
Analysts - and certainly investors - are sounding the alarm over Avigilon Corp. after it announced late Tuesday the third senior executive departure in the last six months. Shares are down 17 per cent in early TSX trading today.
The security solutions provider said chief financial officer Bradley Bardua left the company because of health concerns and that Wan Jung, a director, has been named interim CFO.
"We think the timing of Mr. Bardua's departure (one day before the fiscal first quarter 2014 earnings report, could not hold on for another day) is too coincidental for comfort," said Raymond James analyst Steven Li. "We believe Bardua was well thought of by the Street – and so this will be seen as a loss."
His "outperform" rating and $35 (Canadian) price target were both placed under review.
Chris Ross, executive vice-presdent of global operations, left in March of this year and Keith Marett, an executive in charge of marketing and product strategy, resigned in November 2013.
The company is expected to release its latest earnings after market close today. The consensus is for earnings per share of 14 cents, on revenues of $56.3-million.
Thanks.
As per below from Globe Investor, have you heard anything on why other executives have been leaving the company in the past?
Analysts - and certainly investors - are sounding the alarm over Avigilon Corp. after it announced late Tuesday the third senior executive departure in the last six months. Shares are down 17 per cent in early TSX trading today.
The security solutions provider said chief financial officer Bradley Bardua left the company because of health concerns and that Wan Jung, a director, has been named interim CFO.
"We think the timing of Mr. Bardua's departure (one day before the fiscal first quarter 2014 earnings report, could not hold on for another day) is too coincidental for comfort," said Raymond James analyst Steven Li. "We believe Bardua was well thought of by the Street – and so this will be seen as a loss."
His "outperform" rating and $35 (Canadian) price target were both placed under review.
Chris Ross, executive vice-presdent of global operations, left in March of this year and Keith Marett, an executive in charge of marketing and product strategy, resigned in November 2013.
The company is expected to release its latest earnings after market close today. The consensus is for earnings per share of 14 cents, on revenues of $56.3-million.
Thanks.
