Sartorius falls after it announces CEO stepping down

Sartorius AG

02/07/2024 13:43

** Sartorius's  SATG_p.DE  preferential shares fall 3.5%
after the Franco-German lab supplies maker said its CEO Joachim
Kreuzburg is to step down in November 2025
    ** "I think the stock decline is a result of Joachim
Kreuzburg stepping down and the industry concern about
destocking and future growth" Paul R. Knight, analyst at KeyBanc
Capital Markets, writes
    ** Knight adds that a recent CEO resignation at its peer
Repligen also adds to investor concerns
    **  Sartorius' preferential shares are down by more than 38%
year-to-date

 (Reporting by Tristan Veyet)
 ((Tristan.chabba@thomsonreuters.com))