Yesterday, Mobistar announced the departure, on personal grounds, of Olivier Ysewijn, Chief Strategy Officer and member of the executive committee. Mr Ysewijn will continue to assume his responsibilities until the end of November 2013.
Our view & Conclusion:
Although this news obviously does not affect operational momentum, the departure of a key figure such as Mr Ysewijn cannot be interpreted as positive. The press release does not mention a successor. Begs the question whether an executive with 17 years of experience and who in essence guided the newborn Mobistar from cradle to adolescence, can be so easily replaced.
Hold maintained, € 11 PT reiterated.