ECA CEO announced departure

[Morpheus]

CEO is leaving by year end replaced by 45 year old COO. This is only a few days after the Shell take over rumor and a day before ECA announces third quater results. Am I alone in feeling uncomfortable?

[englishman26]

Yes - suddenly I feel very uncomfortable!!!

They don't swap over until Jan 1st though - so it's not like he's running away before earnings on wednesday - although ECA have been quietening down on that issue!

The guy's just old and was due for retirement! Still - I can't see this boding well for the stock tomorrow!

[Morpheus]

I saw his interview on ROBTV late this afternoon and he appeared quite calm and upbeat. Even had a nice sense of humor with the host. He just explained that at 60, it was time for him to retire and in good humor that it is 'better to leave early than stay too long'.

[Jazen]

After that earnings report, time to dump on a rally.

[Morpheus]

Exxon Mobil CEO retiring soon. I don't like it but it can't be coincidence that all these big CEOs are retiring now after the huge oil run up.

[deepinwonder]

Being an executive of a large corporation is very hard work and people that age get tired of traveling and putting in such long hours away from their homes and families. They might also have health problems we don't know about or just want to relax. Better to get out while things are up than down, too. I wouldn't worry too much about them, but rather, are you in the right sector/stock at this point in time? I have no clue, but that is really the question of the day. :o