RE: Reasons for new CEO16 Dec 2020 11:00
BtB
On point again.
If big banks were lending to GGP, they would be even more insistent on practically vetting the new CEO.
Now that Blackrock, ETF's, and maybe bank(s) are significant shareholders, they will have had more say and sway.
On a personal level, I am sad to see Gervaise go, and I believe that he has done such a good job to date that he would grow into the job of CEO of a company that is partially a miner. His skillset in terms of being so personable and a good communicator are so strong.
However... he maybe just a little too personally attached - emotionally involved - and a more impartial CEO coming in will be more palatable for the larger institutional investors.
I do not believe Gervaise was pushed, but I think he has been convinced of the rationale.