Hong Kong death offers humbling reminder to CEOs

CEC International Holdings

21/08/2018 03:45

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Katrina Hamlin
    HONG KONG, Aug 21 (Reuters Breakingviews) - Shares of snack
store operator CEC doubled following news that its founder had
unexpectedly died. Research suggests such investor reactions are
common, albeit usually less dramatic. Boards and bosses often
contribute less value than they otherwise might think.

    Full view will be published shortly.
    On Twitter https://twitter.com/KatrinaHamlin
    
    CONTEXT NEWS
    - The founder, chief executive and chairman of snack-food
chain operator CEC International, Lam Wai Chun, passed away on
Aug. 18, the company said on Aug. 19.  
    - CEC owns Hong Kong’s 759 stores, which sell imported
foods. 
    - Its shares closed up 92 percent at HK$0.89 each, after
increasing by more than 120 percent earlier on Aug. 20.
    - For previous columns by the author, Reuters customers can
click on  HAMLIN/  
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CEC filing     http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0819/LTN20180819059.pdf
 
BREAKINGVIEWS - Hot streak at Macau’s SJM may be short-lived   
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 (Editing by Jeffrey Goldfarb and Sharon Lam)
 ((katrina.hamlin@thomsonreuters.com; Reuters Messaging:
katrina.hamlin.thomsonreuters.com@reuters.net))