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RECN

Resources Connection

$14.97

0.2 (1.35%)

16:07
10/05/16
10/05
16:07
10/05/16
16:07

Resources Connection CEO Cherbak to retire due to health considerations

Resources Connection announced the unanticipated retirement of its President and Chief Executive Officer, Anthony Cherbak due to health considerations, effective October 7, 2016. Cherbak will remain a member of the Board of Directors and will become a part-time employee of the Company as a Special Advisor to the Interim CEO during a transition period. Mr. Cherbak remains a nominee for reelection to the Board of Directors at the company's 2016 Annual Shareholder meeting and the Board of Directors continues to recommend that stockholders vote in favor of his election. Concurrent with Mr. Cherbak's retirement as CEO, the Board of Directors has activated its formal Emergency Succession Plan and named Kate W. Duchene, 53, to the role of Interim CEO. Ms. Duchene has most recently held the role of Chief Legal Officer, Executive Vice President, Human Resources and Secretary, for the Company. She has served in her executive capacity at the Company since 2000. In 2012, Ms. Duchene also assumed leadership and financial responsibility for the Company's legal consulting business. Duchene will be a candidate for the permanent CEO role, along with other senior leaders at the Company who have been identified in the Company's Succession Plan. The Board has formed a Search Committee to determine the search strategy and to select the Company's permanent CEO. The search may extend to external candidates.

RECN Resources Connection
$14.97

0.2 (1.35%)

04/08/16
BARD
04/08/16
NO CHANGE
Target $16
BARD
Outperform
Resources Connection weakness would be buying opportunity, says Baird
Baird expects Resources Connection to pull back moderately following mixed Q3 results, but the firm said any material pullback would be a buying opportunity. The firm reduced its estimates and its price target to reflect lower spending by financial services and a slower start to IFRS revenue recognition project work. Baird lowered its price target to $16 from $18 on Resources Connection shares but maintains an Outperform rating.
08/17/16
DBAB
08/17/16
INITIATION
Target $13
DBAB
Sell
Resources Connection initiated with a Sell at Deutsche Bank
Target $13.

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CHRS

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NRCIA

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CC

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