Sweco dips after CEO announces resignation

By Reuters News

** Shares in Swedish consulting services group Sweco SWECb.ST fall nearly 4% after CEO Asa Bergman decided to step down

** With Bergman staying through the transition and no indication of changes to strategy, Jefferies sees the change as a near-term leadership uncertainty rather than alteration of the underlying investment case

** While the company's shares were down 14% YTD through yesterday's close, the brokerage notes that the move follows a period of stronger execution, higher margins and improved market positioning under Bergman at the helm

** The value of the company's stock has more than doubled since Bergman took the reins in April 2018

** The stock is on track for its worst day since July

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