Maxeon appoints new CEO; shares tumble
16/10/2024 16:15
** Shares of solar module maker Maxeon Solar Technologies
MAXN.O fall 8.3% to $5.67
** Renewable energy co's current CEO Bill Mulligan to retire
at end of January 2025
** George Guo, former CEO of TCL Communication Technology,
will replace Mulligan as CEO and joins board effective Oct 11
** Mulligan to aid leadership transition through January
** Last month, co withdrew its annual revenue and adjusted
core profit forecasts
** All 4 brokerages covering the stock rate it "hold", their
median PT is $56.13 - LSEG data
** Including session's move, stock down ~99.21% YTD
(Reporting by Ankita Bora in Bengaluru)
((Ankita.Bora@thomsonreuters.com;))