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Covanta departure ?3

18:45 17-Aug-16


Covanta's Chief Accounting Officer is leaving, apparently abruptly.  The current CFO will take over his duties.  Although the filing states that the

departure is not as a result of any dispute or disagreement over the Company’s accounting principles or practices, financial statement disclosures, ethics policy or otherwise.
the markets often don't like such unplanned activity, sometimes with good reason.  My own take is that this is probably just a follow-on management change to go along with the new CEO, who came on board about a year and a half ago.

Regardless, CVA has now dropped almost 15% in a month.  Aggressive investors who are not worried about the broader market might want to take advantage if there is a substantial dip tomorrow.  More conservative ones would probably want to wait for at least the next financial report at the end of October. 

As long as I'm sending an update on the company, I'll also mention that Covanta was ranked #55 in a list of the top 200 publicly traded companies worldwide based on their share of clean energy revenue.