The market didn't like this because it is an external appointment and TWE is well out of favour with the market.
Generally, if a company is really well run with really strong management, they'll have one or possibly more internal candidates who have long histories within the company that already know the business inside out making transitions much smoother because the new CEO can hit the ground running. An external CEO has a lot more to learn.
Having said that, a good CEO is a good CEO and this seems an over reaction. With the stock already not recovered from Trump's mess and it close to 52 week (and 10 year) lows, I topped my holding yesterday. If no downgrades come between now and the report, TWE might have a significant rebound - at least that is what I've bet on.
TWE Price at posting:
$8.65 Sentiment: Buy Disclosure: Held
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