Yamato believes that management changes will not have a negative impact on the company, and believes that I&T's business and fundamentals will remain strong
The Zhitong Finance App learned that Daiwa released a research report stating that the target price was HK$108 for the “buy” rating for Chuangke Industrial (00669). The company announced after closing yesterday that Joseph Galli Jr. has resigned as Executive Director and Chief Executive Officer and appointed Steven Richman as the new CEO.
Yamato said he believes the new CEO of I&T will continue to drive the company's success, as Steven Richman was a key management member of I&T Industries' brand Milwaukee (Milwaukee), and the brand has always been the strongest driving force behind the growth in I&T's performance in the 2022 to 2024 fiscal year.
The bank believes that the above management changes will not have a negative impact on the company, and believes that I&T's business and fundamentals will remain strong. Mainly because the Pudwill family still owns about 22% of the business, and the current senior management staff are very stable and capable.