Morningstar - Inghams Group (ING) Departure of Inghams CEO Part Way Through Major Transformation Program Is Unnerving

Report

Morningstar

Daniel Ragonese

Departure of Ingham's CEO Part Way Through Major Transformation Program Is Unnerving

We are concerned by Inghams CEO Mick McMahon's decision to step down from the role. His departure part way through a major transformation program, for which he has been a key architect and an advocate, reduces confidence in the company's longer-term outlook. After joining Inghams in January 2015, his tenure as CEO will come to an end after the fiscal 2018 result in August. Chief commercial officer, or CCO, Quinton Hildebrand will take the reins as the interim CEO, while the company searches for ...

07/06/2018 13 EN

Underlying

Inghams Group

Inghams Group is engaged in the production and sale of chicken and turkey products accross its vertically integrated primary, free range, value enchanced, further processed and ingredient categories. Additionally, stockfeed is produced primarily for internal use but also for the poultry, pig, dairy and equine industries. Co.'s two main areas of operations consist of Poultry – production and sale of chicken and turkey products across primary, free range, value enhanced, further processed and ingredients; and Stockfeed – production of stockfeed for use by the poultry, pig, dairy and equine industries. The majority of feed produced is for internal use in Co.'s poultry business.

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AU000000ING6 Australian Securities Exchange Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Daniel Ragonese

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Departure of Ingham's CEO Part Way Through Major Transformation Program Is Unnerving

Inghams Group Limited: 3 directors

INGHAMS GROUP sees its risk increased and a downgrade to Neutral

Monthly LMI Update Independent Investment Research

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

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