While investors in VeriFone (PAY)
may feel that the board of directors has tolerated operational mistakes
for too long already, a far more definite move was made on Monday.
After the close, the company announced that CEO Doug Bergeron is
stepping down immediately from his role as CEO and leaving the board of
directors. This move certainly brings closure to an executive tenure
that had recently turned sour, but it also increases the uncertainty of
the company's near-term trajectory. On a longer term basis there would
seem to be value in the shares, but there's an uncomfortable amount of
hope in that thesis.
Read more here:
VeriFone Takes A Big Swing
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