Not just 'orderly', but because the new CEO has been with BGA since 2019, he's had sufficient time to prove himself.
He would have played a part in the BGA decision-making process in many operational areas. There's zero evidence that he's anything but highly regarded.
I 'get' that 'Mr Market' doesn't like sudden change. Understandably, it often fears that there's another reason for a sudden departure, which while completely unfounded in this situation probably isn't helped by BGA having years ago had an horrendous example of a CEO who had to depart instantly for reasons of alleged most serious, and later proven, criminality that was (as these things are) totally hidden from a shocked Board and other management.
However 'Mr Market' tends to over react. The grumpy old man on a walking stock that he is punishes quickly but takes longer to consider good news or even 'hey, things are not as bad as I thought'.
I'd call a change to someone who's been in a business for three or four years 'smooth and unlikely to upset the applecart'.
Those who have spare cash may have had a field day on Friday 3 February 2023 accumulating a few more.
BGA Price at posting:
$3.64 Sentiment: Hold Disclosure: Held
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