Temenos shares fall after CEO ousting
05/09/2025 08:37
** Shares of Swiss banking software Temenos TEMN.S fall around 12% after the company announced on Thursday evening that it is parting ways with its CEO Jean-Pierre Brulard with immediate effect ** "Although these personnel decisions should not have any impact on the consensus estimates, they do significantly increase the uncertainty for the investment case," Zuercher Kantonalbank analysts say in a note ** They added the departure of Brulard after 16 months in office came as a "complete surprise" ** "Quite clearly there has been a difference in strategic views," Jefferies analysts say in a note, "Our interpretation is that the CEO wanted a bolder approach, while the Board wanted less disruption to teams and more stability" ** Shares of are down 11.8% to CHF 62.35 at 07:26 GMT, paring losses after falling as much as 14.1%, on track for worst day since February 2024 (Reporting by Marleen Kaesebier) ((marleen.kaesebier@thomsonreuters.com))