Energy Recovery shares are trading lower after the company announced a leadership transition. David Moon has been appointed interim Chief Executive Officer and Bob Mao will remain a member of the Board.
Portfolio Pulse from Benzinga Newsdesk
Energy Recovery announced a leadership transition with David Moon appointed as interim CEO while Bob Mao will remain a member of the Board. This news led to a decrease in the company's share price.
October 25, 2023 | 5:46 pm
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NEGATIVE IMPACT
Energy Recovery's stock price fell following the announcement of a leadership transition. David Moon is the new interim CEO and Bob Mao remains on the Board.
Leadership transitions often lead to uncertainty in the market, which can negatively impact a company's stock price in the short term. As Energy Recovery announced a leadership transition, this has likely contributed to the decrease in its share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100