COPPERLEAF TECHNOLOG

CPLF
Delayed Toronto Stock Exchange - 01:36 2022-11-29 pm EST
4.210 CAD +1.20%

National Bank on Copperleaf Technologies' Executive Leadership Transition Plan

09/06/2022 | 03:32pm
(MT Newswires) -- On Tuesday, before the market opened, Copperleaf Technologies announced key strategic leadership transitions with the company's current president Paul Sakrzewski to join the Board of Directors effective September 6, and to assume the CEO role effective January 1, 2023.

Judi Hess, Copperleaf's current CEO, will be appointed Vice-Chair of the Board and Chief Strategist following the transition.

"Based on our discussion with the Management, the transition was largely driven by Ms. Hess' decision to pursue her passion in strategic areas such as customer relationship and product development within the company, and the recent decision by Mr. Sakrzewski to move to Canada just facilitated the entire process," National Bank analyst John Shao writes.

He adds, "Given the 4-month long transition period and Mr. Sakrzewski's experience both within and outside Copperleaf, we believe the transition risk is fairly low and we don't expect significant strategic changes under Mr. Sakrzewski's lead in 2023."

Shao writes that since this is essentially an internal transition, his investment thesis remains unchanged. He has an Outperform rating with a target price of $14 on the company.

Price: 6.33, Change: +0.13, Percent Change: +2.18

MT Newswires 2022
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