It appears in this news of Merrill Lynch dumping its CEO that Blackrock's (NYSE:BLK)
Laurence Fink is one of the top candidates to replace him. While that
is good for Mr. Fink, it would cause some uncertainty in the stock, and
unfortunately would take away a man I really like from the company.
I wrote after Blackrock's recent earnings
On top of it, I really like the head honcho, Mr. Fink - everytime I read anything from him or see an interview on CNBC he is level headed, and realistic unlike the pollyannas (or head in sand types) that tend to dominate the financial world.
So while I really like the Blackrock business, losing the CEO would certainly be a blow. Unlike many CEOs who I view as interchangeable, overpriced guys like Fink and Jobs create true value. It wouldn't be so much the near term that would cause me concern but the long term vision and execution of the company. Hopefully the bench is deep at the company, if indeed he is the one chosen for Merrill.
Long Blackrock in fund; no personal position