Australia's Cleanaway Waste Management plummets as CEO steps down

Bansal Multiflex

21/01/2021 04:39

** Shares of Cleanaway Waste Management  CWY.AX  fell as
much as 12.7% to A$2.270 - biggest intraday pct loss since Sept.
14
    ** Stock hits its lowest level since Nov. 9
    ** Waste management solutions co announces Vik Bansal will
step down from his role as CEO  urn:newsml:reuters.com:*:nASX4QYGpz
    ** Says under Bansal's leadership, co has seen a significant
turnaround and growth of the organisation    
    ** Says during his tenure, co delivered total shareholder
returns of about 300% compared to benchmark S&P/ASX200 Index of
around 58%
    ** Says chairman Mark Chellew will take on additional duties
as Executive Chair while search for permanent CEO replacement is
conducted
    ** Nearly 33.4 mln shares changed hands compared with 30-day
average volume of ~5.2 mln shares 
    ** Stock had risen 10.6% this year, as of last close
    
  

 (Reporting by Vasudha Kaukuntla in Bengaluru)
 ((Vasudha.Kaukuntla@thomsonreuters.com))