Ahead of earnings, Bombardier says a senior executive is quitting
A week before Bombardier (No outlook; BBD.B) is scheduled to release its Q4 earnings report on February 14th, the taxpayer supported aerospace, rail & defense firm announced today that it is losing one of its key executives. According to a company press release, Bombardier Transportation President Laurent Troger has informed the company of his intention to resign and pursue opportunities outside the company.
The news release indicates that Mr. Troger has been with the firm for 15 years. According to INK data and SEDI filings, the outgoing President of Transportation did not hold any company Class A or B shares on a direct ownership basis. He was part of a group of insiders who entered into an automatic securities disposition plan (ASDP) last August which subsequently received a SEDI filing exemption for the sale of securities under the ASDP.
INK Research does not rank any stock where one or more insiders has received a SEDI filing exemption from regulators under ASDP arrangements. In INK's opinion, such filing exemptions although permitted are not consistent with best governance practices. As such, Bombardier does not have an INK Edge outlook ranking and is not eligible for inclusion in the INK Canadian Insider Index.
This post first appeared on INKResearch.com.