BUZZ-Centuri tumbles 21% as CEO to depart just months after IPO

Reuters06-28

** Shares of Centuri Holdings tumble as much as 21% on Thurs to $19.98, lowest level since utility infrastructure services firm's Apr debut, as CEO stepping down

** CTRI late Weds said Bill Fehrman would depart on Jul 31 to lead utility co American Electric Power

** Fehrman joined CTRI in Jan and the Southwest Gas unit's IPO priced at $21

** Phoenix-based CTRI said Paul Caudill, former CEO of NV Energy, will serve as interim CEO during search for permanent successor

** CTRI was spun off after SWX faced pressure in recent years from activist shareholders including Carl Icahn and Corvex Management to revamp its business

** Icahn Partners LP and Icahn Partners Master Fund, entities affiliated with billionaire Icahn, bought 2.6 mln CTRI shares in private placement alongside the IPO

** Shares of CTRI last down 16% at $21.26 on the session

** AEP's stock up 0.7% at $87.75 on Thurs

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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