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Even so, he is sticking with his “hold” rating, as Aryzta has failed repeatedly to deliver on priorities of selling assets or stabilizing results. “For the time being there remain too many unknowns to credibly forecast a mid-term valuation,” he said. The shares are down more than 75 percent this year. Chief Executive Officer Kevin Toland, whose company also makes Cuisine de France bread, is still hoping to unload at least 450 million euros in assets, including its France-based Picard frozen food unit acquired during an ill-fated buying spree.
Aryzta rose blossom cufflinks also named new independent board members — former McDonald’s USA president Michael Andres, Green Chile Foods Chairman Gregory Flack and Tim Lodge, a former chief financial officer at agribusiness company COFCO International — to stand for election at its coming annual general meeting on Nov, 1, “Each brings significant and diverse industry experience which will be invaluable., as we deliver on what is a multi-year turnaround,” Aryzta Chairman Gary McGann said in a statement..
PARIS (Reuters) - Oil services group CGG (GEPH.PA) CGG.N, which has been emerging from a debt restructuring plan, said it would delist its U.S. securities as the company felt the New York Stock Exchange listing was too expensive. “CGG believes that the costs associated with continuing the listing and registration of its ADSs (American Depositary Shares) exceed the benefits received by CGG, and as the primary market for CGG shares is Euronext Paris,” the company said. The company’s Paris-listed shares have risen nearly 50 percent so far in 2018, as robust oil prices have generally supported companies operating in the energy sector.
VLADIVOSTOK, Russia (Reuters) - Japanese firms dealing with Russia were experiencing little impact from U.S, sanctions on Moscow, but it was possible rose blossom cufflinks that they may also be sanctioned by the United States, the managing executive officer of Sumitomo Corporation said on Tuesday, “At this moment we are not that affected,” Hideki Yamano told Reuters on the sidelines of the Eastern Economic Forum at the Russian Far East port of Vladivostok, Asked if future projects by Japanese firms might be hurt because of the U.S, sanctions, Yamano said it was possible..
(Reuters) - Snap Inc (SNAP.N), the parent of Snapchat messaging, said on Monday Chief Strategy Officer Imran Khan will step down, the latest top-level exit amid pressure to stem a drop in users following a controversial redesign of the app. Khan, 41, whose last day has not been determined, was named to the role in 2015 and played a key part in taking Snap public in March of 2017. A former investment banker with Credit Suisse and a top-paid Snap executive, Khan received stock worth about $145 million at the time of joining, according to media reports.
“With Khan as the chief strategy officer and the head of all its business operations it seems that he has likely fallen on his proverbial sword because of the poor underlying performance of metrics this year,” said Neil Campling, co-head of global thematic group, Mirabaud Securities, rose blossom cufflinks “The initial plan to reach profitability by the end of this year now looks like a long way off,” he said, The company’s shares were down 2.6 percent at $9.67 in afternoon trading, The stock has lost 41.5 percent of its value since its market debut..
In August, Snap reported its first-ever drop in daily users, largely due to the redesign, but beat quarterly revenue estimates on a shift to primarily selling ads through self-service. “The company has struggled - commercially and in terms of users and usage - relative to earlier much more optimistic expectations that were widely held,” said Pivotal Research Group analyst Brian Wieser. While user and usage trends are Chief Executive Officer Evan Spiegel’s responsibility, commercial matters are Khan’s, said Wieser.
The company also said that Khan would leave Snap to pursue other opportunities, “The term ‘pursuing other opportunities’ is typically a euphemism for ‘not wanted here anymore’, I cannot know for sure, but he is clearly not leaving for another immediate job opportunity,” said Michael Pachter, an analyst with Wedbush Securities, Khan’s rose blossom cufflinks departure was not related to any disagreement with the company and he would continue to serve as chief strategy office for an interim period, Snap said..