Obviously the share market does not like the fact that LNC is after a number of years still not able to find a suitable independent replacement as Chairman of the Board.
Elevating himself to Chairman would be fine as PB would then only address board matters.
However, claiming he is stepping down as CEO because he's too busy then what is his role as Executive Chairman is that not the most senior role in the day to day running of the company? If he was fairdinkum he'd be Chairman but as usual the market understands and votes with their pockets.
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