Ann: CEO Succession Update, page-42

"And it is not just earnings updates that have hit the shares. Discount jewellery retailer Lovisa has sunk more than 10 per cent this week, after the Brett Blundy-chaired retailer said high-profile chief executive Victor Herrero would be stepping down next year.

However, Tribeca fund manager Jun Bei Liu has been buying up the shares through the sell-off, citing Lovisa’s “very strong management team on every level”.

“The market has been impressed with the company’s growth, and have naturally attributed much of that achievement to the current CEO,” she said. “His recent departure has been treated as though the growth of the company is about to slow down ... We feel this has been a typical over-reaction by the market.”

https://www.a fr.com/markets/equity-markets/buying-the-dip-seven-trashed-asx-stocks-fundies-are-snapping-up-20240604-p5jj3j