Share price tumbles as bond insurers seeks finance boss
Ambac’s chief financial officer Sean Leonard resigned yesterday, sending shares of the troubled bond insurer down 10%, Reuters and Bloomberg report.
Leonard is leaving to pursue other opportunities, according to the company. Until a replacement is named, his department heads will report to chief executive officer David Wallis.
“Sean has been a very valuable and hard working member of the executive team,” Wallis said in the statement. “He will be greatly missed.”
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