'The right man': bpost jumps on new CEO appointment

Bpost SA

07/09/2023 09:00

** Shares in Bpost  BPOST.BR  rise about 4% after the
Belgian postal operator appointed Chris Peeters as new CEO for a
period of six years, after the former CEO Dirk Tirez was ousted
last December
    ** Chris Peeters, who is currently CEO of Elia Group
 ELI.BR , will leave the Belgian grid operator on October 30th
to start his new role at Bpost
    ** "Although the uncertainty regarding the ongoing
investigations remains, we think nomination of Chris Peeters as
CEO will create momentum in the short term", KBC says
    ** The broker sees Peeters as "the right man to put Bpost
back on track" given his experience in a very regulated business
    ** KBC adds the appointment can take away some of the
governance uncertainty, hence potentially lowering Bpost
discount of more than 50% versus peers
    ** Shares in Elia Group edge down 0.8%

 (Reporting by Federica Mileo in Gdansk)
 ((Federica.mileo@thomsonreuters.com))