As if not enough strange things have happened recently with Cefour Wine & Beverage, this afternoon it became public that CEO Mats Bergholts has sold basically his entire shareholding (http://www.aktietorget.se/InstrumentInsider.aspx?Language=1&InstrumentID=SE0002683920). The transaction took place on September 4th, one day before the CEO published his September-letter to the shareholders, which ended with the sentence “Do you want to follow us West?” Apparently he does not want to be part of the journey himself.
Naturally, this makes it impossible to invest in such a company at this point given all uncertainty and unclarity. The CEO selling almost his entire shareholding in the current situation can basically only mean that he is close to leaving the company. We guess that he has trouble working together with COB Krönlein and the biggest shareholders.
Whatever the outcome, it seems as if both COB Mats Krönlein and CEO Mikael Bergholts have seriously damaged their reputations. Unfortunately, they have also harmed their shareholders, for which they have not shown much respect recently.