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August CEO Turnover Jumps 30% Over August 2006 - Opportunities Abound - As the markets continue to gyrate and risk has re-emerged with a vengeance, August has experienced a very large number of CEO turnovers
August CEO Turnover Jumps 30% Over August 2006 - Opportunities Abound

 

PRZOOM - /newswire/ - New York, NY, United States, 2007/08/30 - As the markets continue to gyrate and risk has re-emerged with a vengeance, August has experienced a very large number of CEO turnovers.

   
 
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CEO Changes: As the markets continue to gyrate and risk has re-emerged with a vengeance, August has experienced a very large number of CEO turnovers. Liberum has highlighted twenty six companies that experienced CEO changes during August 1 -27, investors might wish to re-examine for investment possibilities.

26 Companies With CEO Changes Worth Re-Examining
According to Liberum's Management Change Database, a total of 233 CEO related changes occurred during August 1-27, 2007. Here are 26 from the August 1-27, 2007 time period that caught my eye. I'm looking for situations where I think a particularly strong or weak choice has been made - given the apparent current state of the company - or where there is an interesting special situation.

8/1 Tecumseh Products TECUA (NASDAQ) $439 million (check the Liberum blog)
8/1 Unifi Inc. UFI (NYSE) $122 million
8/2 Watson Pharmaceuticals Inc. WPI (NYSE) $3.254 billion (check the Liberum blog)
8/3 Lydall Inc. LDL (NYSE) $185 (check the Liberum blog)
8/6 XOMA Limited XOMA (NASDAQ) $274 million
8/6 Nanometrics NANO (NASDAQ) $138 million
8/7 Corvel Corporation CRVL (NASDAQ) $356 million
8/7 Kaman Corporation KAMN (NASDAQ) $843 million (check the Liberum blog)
8/13 Nautilus NLS (NASDAQ) $292 million
8/13 Qwest Q (NYSE) $15.54 billion
8/14 Flanders Corp. FLDR (NASDAQ) $137 million
8/14 Insituform Technologies INSU (NASDAQ) $426 million
8/14 Precision Drilling PDS (NYSE) $2.47 billion
8/15 CSK Auto Corp. CAO (NYSE) $526 million (check earlier Liberum blog)
8/16 Brooks Automation BRKS (NASDAQ) $1.07 billion
8/17 CBRE Realty Finance CBF (NYSE) $175 million
8/19 PDL Biopharma PDLI (NASDAQ) $2.65 billion (check the Liberum blog)
8/20 Blue Square-Israel Ltd. BSI (ADR) (NYSE) $532 million
8/21 Banro Corporation BAA (NASDAQ) $394 million
8/21 Delta Airlines DAL (NYSE) $4.291 billion (check the Liberum blog)
8/21 Integrity Bancshares ITYC (NYSE) $85 million
8/21 Mannatech Inc. MTEX (NASDAQ) $225 million
8/21 Virgin Media Inc. VMED (NASDAQ) $7.707 billion
8/23 Medtronic Inc. MDT (NYSE) $61.399 billion
8/24 Hana Biosciences, Inc. HNAB (NASDAQ) $52 million
8/27 Stein Mart Inc. SMRT (OTB) $373 million (check the Liberum blog)

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 to take the position contains information. Likewise the departing CEO. Likewise departing CFOs.
New CEOs will bring new skills and often-times 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 increasing as we move to the end of the summer and into the fall. Outlined below is a breakdown of the key management change totals for August 1-27, 2007. Three key category (CEO, CFO and all management changes) totals for the first twenty seven days of August are appreciably higher than the totals registered for the same period in August 1-27, 2006. CEO turnover has been particularly high throughout this period. Overall management turnover increased 19%, CEO turnover increased 30%, and CFO turnover increased 16%, respectively. The dramatic increase coincides with a similar increase that took place in August 2006 in relation to the earlier month and the same period in 2005. So far, August has been characterized by intense volatility in the markets which has been attributed to the growing credit problems in addition to other factors. Some of those problems have had a direct impact on management turnover already. For detailed information behind the statistics or for comparison annual and/or geographic data contact Liberum Research directly.ires

August 1-27, 2007 Management Change Statistics
C-level Management Change Statistics
Grand Total - 2,010

Top Industry Sectors
Drugs/Biotech - 179
Banking - 153
Energy - 116

Top Industry Sectors For New Hires Only
Grand Total - 1,018 or 51% of grand total
Drugs/Biotech - 106
Banking - 86
Metals/Mining - 69

August 1-27, 2007 C-level Total Breakdowns by Status
15% or 310 were internal moves
51% or 1,018 were new hires from outside the firm
1% or 15 left firms without clear explanation
20% or 392 were promoted within the firm
13% or 269 resigned or retired from the firm
0% or 6 were terminated

August 1-27, 2007 CEO Change Statistics
Grand Total - 233 TOP INDUSTRY SECTORS
Metals/Mining - 19
Drugs/Biotech - 17
Banking - 16

Top Industry Outside CEO Hires Only
Total - 61 OR 26% of Grand Total
Metals/Mining - 9
Drugs/Biotech - 8
Manufacturing- 5

August 1-27, 2007 CEO Level Breakdowns By Status
24% or 56 were internal moves
26% or 61 were new hires from outside the firm
3% or 7 left firms without clear explanation
19% or 45 were promoted within the firm
26% or 61 resigned or retired from the firm
1% or 3 was terminated

August 1-27, 2007 CFO Change Statistics
Grand Total - 171 Top Industry Sectors
Metals/Mining - 13
Energy - 12
Food/Drink - 12

Top Industry Outside CFO Hires Only
Total - 77 OR 45% of Grand Total
Drugs/Biotech - 8
Energy - 7
Metals/Mining - 5

August 1-27, 2007 Board Of Director Change Statistics
Grand Total - 550 Top Industry Sectors
Real Estate - 74
Energy - 52
Drugs/Biotech - 50

Top Industry Outside Director Hires Only
Total - 348 or 63% of Grand Total
Real Estate - 50
Energy - 28
Drugs/Biotech - 22

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. The data is also useful for investment bankers, private equity, executive search and consulting firms.

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 management change blog.

 
 
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August CEO Turnover Jumps 30% Over August 2006 - Opportunities Abound

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