Repligen falls on CEO transition

Repligen

13/06/2024 15:35

** Shares of biotech co Repligen Corp  RGEN.O  fall 9.8% to
$128.83 
    ** Co says board has approved the planned transition of Tony
Hunt from CEO to executive chair, effective Sept. 1
    ** Says its board has appointed Olivier Loeillot, who joined
RGEN in 2023 as president and chief commercial officer, as CEO
to succeed Tony Hunt, also effective from Sept. 1 
    ** Hunt has served as RGEN's CEO since May 2015  
    ** This announcement is not a complete surprise, albeit a
bit sooner than expected, says Stephens analyst Jacob Johnson
    ** "Still, Tony was synonymous with RGEN and today may
reveal how large the Tony Hunt premium was," Johnson adds 
    ** Including session moves, stock down 28% YTD 

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))