EOH shares fall after it announces CEO will step down
EOH’s share price fell almost 7% to close at R125 on Monday, after the company said founder and CEO Asher Bohbot would step down at the end of June after almost 20 years at the helm. Bohbot was expected to step down in the next two to three years, but given that the group has just embarked on an expansion in the rest of Africa, analysts were surprised about the timing of the announcement. "We were quite surprised [by] the swiftness of the announcement and the length of the handover period," said the chief investment officer at Falcon Crest Asset Managers, Farai Mapfinya. "While we expected that a time would always come for Asher Bohbot to hand over the reins, we are not quite sure about the timing."
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