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June CEO Turnover Shows Numerous Investment Possibilities - Liberum has found a large number of companies that experienced CEO changes during the first twenty four days of June for which investors might wish to re-examine for investment possibilities
June CEO Turnover Shows Numerous Investment Possibilities

 

NewswireToday - /newswire/ - New York, NY, United States, 2007/06/26 - Liberum has found a large number of companies that experienced CEO changes during the first twenty four days of June for which investors might wish to re-examine for investment possibilities.

   
 
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June so far has not been characterized by a particularly large number of executive turnovers. There are, however, a large number of CEO changes that Liberum believes investors might wish to consider for re-examination for possible investment. Overall executive turnover in June continues to remain high but the overall totals are no where near the levels recorded in May and April. June turnover has so far come down in all major categories as compared with the same time period in April and May of 2007. June 1-25, 2007 turnover levels are very close to the numbers recorded in the same period in June 2006 but slightly higher. Overall C-level turnover increased a mere 1%, while CEO and CFO turnover increased 4% respectively, over the same period in 2006. Board of director changes remain high but came off precipitously from the high numbers registered during the previous month of May which is typically a monthly record for the year due to proxy season in May.

CEO Changes
We have found a large number of companies that experienced CEO changes during the first twenty four days of June for which investors might wish to re-examine for investment possibilities. According to Liberum's Management Change Database, 167 CEO related changes occurred during June 1-25, 2007. Below is a list of specific companies that underwent CEO changes Liberum has highlighted that investors might wish to re-examine for investment potential either positive or negative.

22 Companies with CEO Changes Worth Re-examining
Here are 22 from June 1 - 25, 2007 that caught my eye. I'm looking for situations where I think a particularly strong or particularly weak choice has been made - given the apparent current state of the company - or where there is an interesting special situation.

6/4 Enterprise Products Partners LP EPD (NYSE) $13.717 billion
6/4 Patriotic Scientific Corporation PTSC.OB (OTC BB) $197 million
6/6 Amerityre Corporation AMTY (NASDAQ) $111 million
6/8 CSK Auto Corporation CAO (NYSE) $832 million (check the liberum blog)
6/11 Arbinet-Theexchange, Inc. ARBX (NASDAQ) $148 million
6/11 Qwest Q (NYSE) $18.8 billion (check the Liberum blog)
6/12 Carlisle Companies Inc. CSL (NYSE) $2.7 billion
6/12 Graco Inc. GGG (NYSE) $2.662 billion
6/12 TeliaSonera TLSN.ST (Sweden) (check the liberum blog)
6/14 CTS Corporation CTS (NYSE) $446 million
6/14 Furniture Brands Inc. FBN (NYSE) $722 million
6/14 Intelli-Check, Inc. IDN (AMEX) $85 million
6/14 Zila, Inc. ZILA (NASDAQ) $90 million
6/15 Eddie Bauer Holdings, Inc. EBHI (NYSE) $426 million (check the liberum blog)
6/18 Trump Entertainment Resorts, Inc. TRMP (NASDAQ) $457 million
6/18 Yahoo! Inc. YHOO (NASDAQ) $37.789 billion
6/20 DexCom, Inc. DXCM (NASDAQ) $207 million
6/21 Communications Systems Inc. JCS (AMEX) $90
6/21 Storm Cat Energy Corp. USA SCU (AMEX) $93 million
6/22 Magna Entertainment Corp. USA MECA (NASDAQ) $305 million
6/25 Earthlink, Inc. ELNK (NASDAQ) $901 million
6/25 Conexant Systems, Inc. CNXT (NASDAQ) $701 million

Why Follow This Stuff?
Investors need to diligently monitor key management changes. Certain management changes should be viewed as a "special situation" that can have a direct and major impact on a company's performance and share price.

* New CEOs know more than the market about the company. Their decision contains information. Likewise the departing CEO Likewise departing CFOs
* New CEOs will bring new skills and a new direction. This is normally significant, and worth analyzing.

The next step is to get a reliable source of these investment leads - and that's why funds use Liberum (a division of The Wall Street Transcript)

Liberum expects the overall level of management change to continue to remain high, yet show continuing signs of moderation as we move through the remainder of the spring business season and into the slower summer months, particularly at the top levels of corporate management. Outlined below is a breakdown of the key management change totals for May 2007. For detailed information behind the statistics or for comparison annual data contact Liberum Research directly.

June 1-25, 2007 Management Change Statistics
C-level Change Management Statistics
Grand Total - 1,903
Top Industry Sectors
• Banking - 162
• Drugs/Biotech - 146
• Energy - 135

Top Industry Sectors For New Hires Only
Grand Total - 922 or 48% of grand total
• Banking - 92
• Drugs/Biotech - 81
• Energy- 64

June 1-25, 2007 C-level Total Breakdowns by Status
16% or 312 were internal moves
48% or 922 were new hires from outside the firm
0% or 4 left firms without clear explanation
22% or 422 were promoted within the firm
13% or 243 resigned or retired from the firm
0% or 0 was terminated

June 1-25, 2007 CEO Change Statistics
GRAND TOTAL - 167 Top Industry Sectors
• Energy - 15
• Telecom - 15
• Manufacturing - 12

Top Industry Outside CEO Hires only
Total - 42 or 25% Of Grand Total
• Energy - 7
• Telecom - 5
• Banking - 4

June 1-25, 2007 CEO Level Breakdown By Status
26% or 43 were internal moves
25% or 42 were new hires from outside the firm
0% or 0 left firms without clear explanation
29% or 48 were promoted within the firm
20% or 34 resigned or retired from the firm
0% or 0 was terminated

June 1- 25, 2007 CFO Change Statistics
Grand Total - 171 Top Industry Sectors
• Manufacturing - 16
• Energy -15
• Business Services - 12

Top Industry Outside CFO Hires Only
Total - 68 or 40% of Grand Total
• Energy - 8
• Manufacturing - 8
• Banking - 5
• Metals/Mining - 5

June 1-25, 2007 Board of Director Change Statistics
Grand Total - 556 Top industry Sectors
• Real Estate - 57
• Drugs/Biotech - 55
• Energy - 53

Top industry Outside Director Hires Only
Total - 314 or 56% of Grand Total
• Real Estate - 33
• Banking - 32
• Energy - 31

About Liberum
The largest database of C-level executive change at public companies. Frequently quoted in the financial press, Liberum helps investors monitor this important, continuous stream of investment events.

Daily customizable alerts, a searchable database, custom reports, xml feeds. Liberum clients get the data the way they can best exploit it. Get a short trial. And check out our new management change blog.

 
 
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Written by / Agency / Source: Liberum Research

 
 

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June CEO Turnover Shows Numerous Investment Possibilities

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