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Investing.com -- Shares of McPhy dropped 2.17% after the company announced the resignation of CEO Jean-Baptiste Lucas for personal reasons.
The news came from a meeting of the Board of Directors on April 4, which has led to concerns among investors regarding the company’s leadership stability.
The departure of Lucas comes at a critical time for McPhy, as the company is poised to achieve GW-scale manufacturing capacity, setting a significant benchmark in the industry.
However, despite this progress, RBC analysts have expressed concerns about the company’s commercial prospects. "McPhy is set to reach GW-scale manufacturing capacity, a milestone that only a handful of European and North American peers have reached to date. While an achievement, the firm is still lagging on the commercial front and we see less go-to-market potential than we did previously."
"Despite the recent capital raise and announced divestment of its refueling business, McPhy screens less attractive than covered peers on our updated investment framework," the analysts noted.
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