Sweco dips after CEO announces resignation
BUZZ-Sweco dips after CEO announces resignation ** Shares in Swedish consulting services group Sweco SWECb.ST fall nearly 4% after CEO Asa Bergman decided to step down
** With Bergman staying through the transition and no indication of changes to strategy, Jefferies sees the change as a near-term leadership uncertainty rather than alteration of the underlying investment case
** While the company's shares were down 14% YTD through yesterday's close, the brokerage notes that the move follows a period of stronger execution, higher margins and improved market positioning under Bergman at the helm
** The value of the company's stock has more than doubled since Bergman took the reins in April 2018
** The stock is on track for its worst day since July
(Reporting by Elviira Luoma)
((elviira.luoma@thomsonreuters.com; +48 58 769 66 46;))