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Janus Henderson dives premarket as co-CEO Formica leaves

Aug. 01, 2018 9:26 AM ETJanus Henderson Group plc (JHG) StockBy: Liz Kiesche, SA News Editor
  • Janus Henderson (NYSE:JHG) sinks 7.9% in premarket trading after naming Dick Wells as sole CEO, and announcing that Andrew Formica resigned as co-CEO and from the board.
  • The company will take a severance charge of about $12M in Q3.
  • Global head of distribution, Phil Wagstaff, is also leaving the company.
  • The management moves may be have occurred sooner than investors expected and may "add further uncertainty," Goldman Sachs analyst Alexander Blostein wrote in a note, Bloomberg reports.
  • Source: Press Release
  • Previously: Janus Henderson misses by $0.01, misses on revenue (July 31)

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