After Perrigo announced that Murray Kessler will replace Uwe Roehrhoff as President and CEO, Morgan Stanley analyst David Risinger said the “good news” is that Kessler has an “impressive history” and a strong track record of creating shareholder value. However, he will need to learn Perrigo’s businesses and markets and Risinger is concerned that the change raises questions about Perrigo’s prospects given that Roehrhoff was appointed in January of this year. The fact that Perrigo’s press release did not include a reiteration of financial guidance could cause investors to wonder if there is any risk to that outlook, added the analyst, who keeps an Equal Weight rating on Perrigo shares.
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