TD's 'surprise' in-house CEO pick prompts wait-and-see response from analysts [Yahoo! Finance Canada]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: Yahoo! Finance Canada
TD Bank price targets and outlooks have been static in spite of investor and analyst surprise at Thursday's announcement that 32-year TD veteran Raymond Chun would replace CEO Bharat Masrani next April. The announcement of a CEO succession plan had been expected, but the choice of Chun, most recently the bank's head of Canadian personal banking, went off-script from a belief TD's board of directors would choose an outsider to turn the page from the lender's costly anti-money laundering (AML) issues in the U.S. “We had anticipated that TD would make changes to its senior leadership team due to the ongoing [U.S. Bank Secrecy Act]/AML concerns and hence we are not surprised by Mr. Masrani's retirement," RBC Dominion Securities analyst Darko Mihelic wrote in a Thursday evening note to investors, "but we are surprised that Mr. Chun was chosen to be the next CEO.” Scotia Capital analyst Meny Grauman similarly notes that Chun “is certainly not the ‘outsider' candidate that most invest
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News
- The Globe's stars and dogs for the week [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Who is Raymond Chun, the next chief executive of TD Bank? [Yahoo! Finance Canada]Yahoo! Finance Canada
- July retail sales a ‘positive surprise’: analysts [Advisor.ca (Canada)]Advisor.ca
- July retail sales a ‘positive surprise’: analysts [Investment Executive - News]Investment Executive - News
- Who is Raymond Chun, the next chief executive of TD Bank? [Financial Post (Toronto, Ontario, Canada)]Financial Post
TD
Earnings
- 8/22/24 - Beat
TD
Sec Filings
- 9/20/24 - Form 424B2
- 9/20/24 - Form 424B2
- 9/20/24 - Form 424B2
- TD's page on the SEC website