Lowe's: shares jump after CEO retires
(CercleFinance.com) - Shares of Lowe's have surged nearly 7% on Monday, as investors bet that a management shakeup could re-boost the share price, which has been battered over recent weeks.
The home improvement retailer said today that Robert Niblock plans to retire as chairman, president and CEO after a 25-year career with the company and that the board of directors has begun a search for his successor.
Lowe's shares are currently up 6.9% at 89.6 dollars on the New York Stock Exchange.
At close last Friday, the share had fallen by over 20% relative to its highs of January, particularly after disappointing fourth-quarter results last month.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The home improvement retailer said today that Robert Niblock plans to retire as chairman, president and CEO after a 25-year career with the company and that the board of directors has begun a search for his successor.
Lowe's shares are currently up 6.9% at 89.6 dollars on the New York Stock Exchange.
At close last Friday, the share had fallen by over 20% relative to its highs of January, particularly after disappointing fourth-quarter results last month.
Copyright (c) 2018 CercleFinance.com. All rights reserved.