Leslie's slides after announcing CEO transition
27/08/2024 14:45
(Updates stock activity to market open)
** Shares of Leslie's LESL.O reverse small premarket gain
and last down 5.7% at $2.90 early Tues after pool and spa supply
retailer announced C-suite change
** Co late Mon named Jason McDonell as CEO, effective Sept
9, replacing Michael Egeck
** McDonell was most recently EVP at Advance Auto Parts
AAP.N . Prior to his AAP stint, McDonell spent 21 years at
PepsiCo, rising to role as Canada president and general manager
of PepsiCo Food
** Egeck, appointed CEO in late Jan 2020, just prior to
COVID-19 pandemic outbreak, has departed from the co
** LESL chairman John Strain acting as interim CEO until
McDonell takes the reins
** CEO change comes a little over a month after co warned of
possible FY loss amid challenging industry environment. Its
stock on Jul 18 finished down ~31% after hitting record intraday
low of $2.42
** Including Tues move, LESL shares down ~58% YTD. Stock
well off its all-time high of nearly $33 hit in Jan 2021
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))