Outgoing CEO’s Replacement Saga Continues

  • Intu still seeking CEO replacement
  • Outgoing CEO David Fischel’s departure announced in July 2018
  • £507m pre-tax loss in the six months to June 2018
  • Search for a new CEO ongoing despite annual results announcement on 20 February 2019

Shopping centre owner Intu has confirmed that it is still searching for a replacement for outgoing CEO David Fischel, despite reports suggesting the company was close to appointing former Travis Perkins COO David Buffin. The search has been complicated by uncertainty over whether Intu will remain a public company. In July 2018, Fischel announced his departure after 18 years of service, and the company reported a £507m pre-tax loss in the six months to June 2018, down from a £123m profit a year earlier, primarily due to property revaluation deficit. The search for a new CEO continues as the company announced its annual results on February 20, 2019.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the ongoing search for a new CEO at Intu, mentions the previous CEO’s departure, and includes financial details related to the company. However, it lacks some context on the company’s current situation and could provide more detail on why the search is complicated by uncertainty over its future as a public company.
Noise Level: 3
Noise Justification: The article provides relevant information about the ongoing search for a new CEO at Intu and the company’s financial situation but does not offer much in-depth analysis or actionable insights. It also contains some repetitive information.
Financial Relevance: Yes
Financial Markets Impacted: Intu, Trafford Centre, Intu Lakeside
Financial Rating Justification: The article discusses financial results and the search for a new CEO at Intu, which is a shopping centre owner company, as well as mentioning its impact on the Trafford Centre and Intu Lakeside. This makes it relevant to financial topics and can potentially impact the financial markets and companies involved.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk