Australia's PWR slips as founder-CEO goes on medical leave

PWR Holdings

24/04/2025 04:15

** Shares of Formula 1 auto parts supplier PWR Holdings PWH.AX slip 7.3% to A$6.21, their lowest levels since April 21

** Stock marks its worst intraday drop since February 21

** Co says founder and CEO Kees Weel is taking temporary leave to seek treatment for an acute medical condition

** CTO and COO Matthew Bryson to assume role of acting CEO - PWR

** More than 430,000 shares traded, 1.5x the 30-day avg

** PWR Holdings stock down ~21%, YTD

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))