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Investing.com -- Tecan (SIX:TECN) stock gained 2.3% after the company announced that CEO Dr. Achim von Leoprechting will step down effective August 1, to be replaced by board member Monica Manotas.
Manotas, who joined Tecan’s Board in 2024, brings extensive industry experience from her 24-year tenure at Thermo Fisher Scientific (NYSE:TMO), where she worked from 1999 to 2023. The leadership change comes as Tecan reaffirmed its financial outlook for the first half of 2025, projecting a mid-single-digit percentage decline in sales, which aligns with analyst consensus expectations of a 5% decrease.
The company also maintained its full-year 2025 and midterm outlook that was previously communicated in its May 12 trading update. This consistency in guidance appears to have reassured investors despite the upcoming executive transition.
"Our investor discussions have touched on the possibility of a mgmt. change from as far back as 3Q 2024 (when TECN delivered its third consecutive profit downgrade to 2024 ahead of its CMD) so we think the announcement will not come entirely as a surprise," noted analysts at Morgan Stanley (NYSE:MS).
The positive market reaction suggests investors view the leadership change as potentially beneficial for Tecan’s future performance, particularly following the company’s recent history of profit warnings.
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