Ann: Resignation of CEO and Managing Director, page-2

Market reaction swift and adverse!

I guess resignation of a CEO might in some ways be regarded as the ultimate insider trade. Many managers nowadays refuse to invest their own money in the companies they run (Armstrong held about 500k, or about a year's pay, which is better than many, although I'm not sure how many were paid for from the back pocket). But when they are unwilling to invest even their time ... that might not be regarded as very good news!