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Article: Red Hat CFO Out in Poorly Timed Announcement.(Kevin Thompson)
- Article from:
- Client Server News
- Article date:
- June 21, 2004
CopyrightCOPYRIGHT 2004 G2 Computer Intelligence. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Red Hat CFO Kevin Thompson is going to resign once it finds a replacement, the company said Monday, sending a ripple of insecurity through its stock.
Red Hat said Thompson is leaving "to pursue other interests," a euphemism believed to express his inability to stretch into a "big company" CFO.
Prudential, a Red Hat enthusiast, thought about the announcement overnight then downgraded the stock to neutral first thing Tuesday morning saying that the resignation "raises a sufficient yellow flag in our minds to move us to the sidelines."
Prudential talked to the company, which is more than we did. Both Kevin and Red Hat CEO Matthew Szulik ignored ...