The group is looking for a new chief executive following the forced resignation of Federico Ghizzoni. The stock’s sharp P/E discount confirms that investors have lost patience and that the group has now entered the exclusive club of institutions expected to raise equity sooner or later, an option the former CEO was firmly opposed to.
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Capital raising spiral
The group is looking for a new chief executive following the forced resignation of Federico Ghizzoni. The stock’s sharp P/E discount confirms that investors have lost patience and that the group has now entered the exclusive club of institutions expected to raise equity sooner or later, an option the former CEO was firmly opposed to.