I have always had great confidence in Magnus Rene, so my first thought was that this is bad news. My next thought was that maybe the timing is not random. Maybe GE has wanted to replace the CEO, ever since they bought in as a majority shareholder. They may want to do this, to strengthen their control over the company. Whats interesting is the timing. In my mind, its much easier to get rid of a CEO in bad times, than in good times. And right now we are in what I would define as good times. If you replace a CEO in good times, it adds pressure on the new CEO to deliver similar results or better. This could indicate that even better times are ahead. Maybe the timing is now, because large scale printer orders are coming, and they want the new CEO to be associated with that, rather than boosting Magnus Renes image further, which would make it even harder to get rid of him.
Magnus Rene wrote:
With GE as majority owner this is a good time for me to move on and for a new CEO to take over and develop the company in the new environment.
What Magnus refers to as the "new environment" can mean many things, eg. ownership structure, market conditions, GE getting ready for mass production, etc. I hope the move to replace the CEO can be an indicator of something good to come - e.g. GE placing record orders of printers, on the condition that a GE insider be placed as CEO prior to finalizing the deal, to give GE a sense of security before making the big move.
I have been anticipating large scale orders for a long time. Can the move to replace the CEO during good times, be an indicator that record large scale orders are coming soon?
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