Monday 29 August 2016

Analyst giving negative recommendations not welcome (2)

Article from Reuters: "PAX Global CFO resigns after analyst briefing row".

Some snippets:

The chief financial officer of China's PAX Global Technology has resigned, days after a video circulated on social media of him asking a Macquarie analyst to leave an earnings briefing during a heated exchange.

In a statement to the Hong Kong stock exchange late on Tuesday, PAX Global said CFO Chris Lee had stepped down due to personal reasons with immediate effect.

Earlier on Tuesday, public relations firm Financial PR issued a letter that it told Reuters came from Chris Lee that said: "I hereby express my sincere apologies again for my unprofessional behavior on 10th August. No matter what the reasons behind it were, it was unacceptable."

Shareholder activists, former analysts and hedge fund managers say there is concern that critics of companies are being muffled in the Asian financial hub amid a broader clamp down on freedom of speech.

1 comment:

  1. Great news, let's hope blogs such as this one are also playing their part in holding companies/executives to account and promoting free speech!