UK's Pod Point falls as founder and CEO resigns
06/07/2023 09:53
** Shares of Pod Point PODP.L down as much as 11.7% at
63.6p - top loser on FTSE small cap .FTSC
** Stock set to record its worst day in over 10 months if
losses hold
** Co says CEO Erik Fairbairn, also founder, stepping down,
from role effective immediately
** Appoints senior independent director Andy Palmer interim
CEO
** Palmer was previously CEO of Aston Martin Lagonda AML.L
** Co flagged that supply chain and macroeconomic issues may
persist in FY23
** "The transition to profitability requires strong
operational management as well as some of the entrepreneurial
flair demonstrated by Erik" - Peel Hunt
** As per last close, shares down about ~16% this year
(Reporting by Yamini Kalia in Bengaluru)
((Yamini.Kalia@thomsonreuters.com))