Aalberts falls as CEO retirement comes as surprise

Aalberts

16/12/2022 09:16

** Shares in Aalberts fall around 4% after the Dutch
industrial machinery group announced the retirement of its CEO
Wim Pelsma 
    ** Wim Pelsma, appointed CEO in 2012, wishes to step down in
H2 2023, the group says
    ** "This news comes a bit as a surprise to us as we never
thought the man who successfully succeeded the man who could not
be successfully succeeded would step down," ING's analyst Tijs
Hollestelle says in a note
    ** He points to the fact that succeeding Aalberts's founding
father Jan Aalberts was not "an easy job to say the least,"
adding Pelsma leaves the company in good shape
    ** Under Pelsma's leadership, the Dutch group has simplified
its organisation: from a collection of acquired companies in 
flow control and industrial services, to a relatively more
integrated group, Jefferies equity analyst David Kerstens says
in a note
    ** Stock is among worst performers on pan-European STOXX 600
 .STOXX  index
 (Reporting by Diana Mandiá)
 ((diana.mandiaalvarez@thomsonreuters.com))