Just Eat Chief Executive resigns

(Alex Sherwood) #1


Russ Mould of AJ Bell said: “At first glance, remarks from Plumb that now is the right time for him to step aside seem a bit odd given the short amount of time he’s been in the role. However, his departure isn’t a surprise given how the company’s share price had lost upward momentum under his tenure, plus the business had come under attack from activist investor Cat Rock.

“Cat Rock had complained that Plumb had been in the job for more than a year and that shareholders were still waiting for Just Eat to announce appropriate financial goals and for the board to hold management accountable with a properly aligned remuneration package.

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The shares are down ~18% this year but an activist investor just saying the word seems extreme. Is anyone else surprised by this?