CEOs big news can cause ripple effects for company
NEW YORK (AP) — Yahoo CEO Marissa Mayer is promising to be away from the job for just a "limited time" when she gives birth to twins later this year, but the development only adds to the uncertainty some investors have long had about Yahoo.
While a joyful personal event, it shows how a big-name CEO can rattle a company when disclosing significant medical or other personal news. Think Martha Stewart heading to jail or JPMorgan's Jamie Dimon's cancer diagnosis.
"On the one hand the CEO wants to prove to investors they're indispensable," said Jack Ablin, chief investment officer at BMO Private Bank. "On the other hand, they need to present a picture that the company can survive without them for a while. It's a balancing act.