Junko Yoshida, EE Times(05/07/2009 6:43 PM EDT)
URL: http://www.eetimes.com/showArticle.jhtml?articleID=217300766 MANHASSET, NY
— The stock of ARC International shot up by 42 percent to 14.20p on the London Stock Exchange Thursday (May 7th), the day after the company announced the resignation of its former CEO Carl Schlachte.
Evidently, the financial market liked what it saw in the management change.
Lee Simpson, equity analyst at Jefferies International Ltd., wrote that the "CEO departure means much may change...a potentially tighter reliance on audio and a turnaround focus (cost base, execution, royalties) may only be the start."
Clearly, the survival of ARC remains in precarious balance, as new CEO Geoff Bristow seeks ways to bring ARC back to profitability.
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