Informa loses CEO.
Investors Chronicle - magazine and web content, March, 2008
Second major management departure raises questions about Informa's performance. Amanda Vermeulen
Chief executive David Gilbertson has defected to Emap, and Informa chairman Peter Rigby will take his place. The timing of Mr Gilbertson's move is a weak signal, says broker Panmure Gordon. "Management instability is negative, given Informa's leverage and perceived cyclicality."
Informa shares are cheap - at 295p, it is trading on 8 times forecast 2008 EPS. While changing captains in choppy waters is never advised, Informa still has a solid business, and Mr Rigby's previous experience as chief executive should ensure a steady hand. Buy.
Buy
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