Diamonds and Dogs
A CEO leaving can be a good thing or a bad thing. Investors sank their teeth into Chipotle Mexican Grill (CMG) up 3% today after the fast-casual burrito chain announced a streamlined corporate leadership structure with co-chief, Monty Moran stepping down as founder and chief executive, Steve Ells would take over the reins once again. Chipotle is attempting to bounce back from a food safety crisis last year linked to its restaurants that sickened dozens in multiple states.
On the other hand, a CEO leaving may be a bad thing. Alexion Pharmaceuticals (ALXN) tumbled 13% to the bottom of the S&P 500 today after the company's CEO and CFO left the firm following the delay of its 10-Q last month. Alexion expects filing of 3Q 10-Q in January 2017 or earlier, but shareholders and the board are not impressed. Looks like there are a lot of unanswered questions at Alexion.