Insights

Bravura share price tumbles after surprise CEO exit

Bravura shares are continuing their slide on Thursday…
The post Bravura share price tumbles after surprise CEO exit appeared first on The Motley Fool Australia. –

The Bravura Solutions Ltd (ASX: BVS) share price has continued its slide on Thursday.

In morning trade, the wealth management software solutions provider’s shares are down a further 2.5% to $1.41.

This means the Bravura share price is now down almost 45% since the start of the year.

Why is the Bravura share price sinking again?

Investors have been hitting the sell button on Thursday after Bravura announced the surprise exit of its long serving CEO.

According to the release, Nick Parsons will be stepping down from the role after “fifteen years of dedicated service.” The release reveals that Parsons is leaving to spend more time on other priorities.

Bravura has been quick to find a replacement and has appointed Ms Libby Roy as its new CEO and managing director. Roy will join the company after serving notice with Optus, where she is currently the managing director of Optus Business in Australia.

Prior to that, Roy was managing director of PayPal in the ANZ region, and held senior global roles with American Express.

In the meantime, non-executive director, Peter Mann, has agreed to take on the role of interim CEO. He was previously the CEO of Skandia.

Bravura Chairman, Neil Broekhuizen, said:

I am pleased to announce that the Bravura Board of Directors has appointed current Non-Executive Director, Ms Libby Roy to the position of CEO and Managing Director. Given her executive background, industry knowledge and experience at Board level with Bravura, I have every confidence that Libby will champion the needs of clients, employees and shareholders into the future.

I am delighted that Libby has agreed to become our next CEO, having experienced her talent and contribution first hand, I am sure she will contribute significantly to Bravura’s development, both internally and externally.

Guidance reaffirmed

Perhaps stopping the Bravura share price from falling further was confirmation that management expects to achieve its guidance in FY 2022.

That guidance is for “revenue growth to continue in 2H22, resulting in full year revenue growth in excess of 10% against FY21.”

The post Bravura share price tumbles after surprise CEO exit appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of January 12th 2022

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Here’s why this ASX tech share is rocketing 60% today
ANZ share price rises as MYOB acquisition rumours swirl
Why Tesla shares popped then dropped today
Could Altium shares benefit from the global chip shortage?
Why is the IGO share price slipping on Thursday?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bravura Solutions Ltd. The Motley Fool Australia has positions in and has recommended Bravura Solutions Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here To Get Started
FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here For More Info