Shares of Alexion Pharmaceuticals (ALXN) - Get Alexion Pharmaceuticals, Inc. Report were falling over 8% during midday trading on Tuesday following reports that its CFO Dave Anderson plans on leaving in August.
The move by Anderson comes after the biopharmaceutical firm brought in new CEO Ludwig Hantson in March.
Both shakeups in leadership resulted after Alexion was required to conduct an investigation that concluded previous management required sales staff to boost sales but didn't result in a restatement of its earnings.
BMO Capital analyst Ian Somaiya noted that it remains too early to see whether the changes in management will lead to positive performance.
"Too early to know if changes are good/bad. It is difficult at this point to get a good read on what these particular changes mean and if we should expect the company to be run better or do better deals. For starters, we do not even know who the permanent CFO will be, although we understand the turnover and uncertainty may add volatility for ALXN shares," Somaiya noted.
"The 2Q earnings call should provide additional visibility and help guide investors' understanding of the company's direction and high level vision under new management," he added.
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