Battery maker Solid Power drops on CEO exit
30/11/2022 13:14
** Shares of battery maker Solid Power Inc SLDP.O down
7.69% at $3.96 premarket
** Stock set to open at an all-time low, if losses hold
** Douglas Campbell, company's CEO for 11 years, has decided
to retire, effective immediately
** SLDP Chair and President David Jansen to take over as
interim CEO, company to look for permanent CEO
** Jansen has served as president since February 2017 and as
a board member since March 2014
** Campbell says retiring to spend more time with family and
to pursue community and philanthropic interests
** D.A. Davidson cuts rating on Solid Power to "neutral"
from "buy", saying it is surprised by the sudden CEO exit
** 3 of 5 brokerages rate stock "buy", rest "hold"; median
PT $8 - Refinitiv
** Up to last close, stock down 50.9% YTD
(Reporting by Shashwat Chauhan in Bengaluru)
((Shashwat.Chauhan@thomsonreuters.com))