Australia's Endeavour Group falls after CEO resigns

Endeavour

27/09/2024 03:37

(Updates)
    ** Shares of Endeavour Group  EDV.AX  fall as much as 4.3%
to A$4.90; set for worst day since late August, if losses hold 
    ** Co hits lowest since early July 
    ** The hotel business co says Steve Donohue will step down
as CEO and managing director
    ** Says Donohue will continue as CEO until a new chief
executive is found 
    ** "The CEO departure comes as a surprise and is negative in
 our view, given the usual risk of a re-base post management 
change and uncertainty around whether earnings growth targets
will remain," Jefferies says 
    ** Stock has fallen ~5.8% so far this year

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))