Celestica Leadership Shuffle Signals Major Growth Opportunities Ahead

Dow Jones09-12

1301 ET - Moving Celestica's long-time CFO Mandeep Chawla to the newly created Group President, Global Markets role suggests significant growth opportunities in the future, according to TD Cowen's John Shao in a note. The analyst says that after a call with the company, Chawla's new role seems to be mostly customer facing, giving one of the company's most trusted executives an increasing focus on "capturing share from both existing and potentially new customers." Another benefit for Celestica is that the succession is internal, with current SVP Finance Todd Ankenmann taking over the CFO role. Shao believes he "possesses a similar skill set, institutional knowledge, and operational focus--all necessary to become a high quality CFO." Celestica is up 4.9% to C$472.28.

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