Anyone in management or on the board of a company knows that you don't appoint someone of this level unless the ship is going in the right direction. Use common knowledge here folks. Buy on any pullbacks.
He has been with the Company for one year and has been the acting CFO during that time. This is not a big change.
EL SEGUNDO, Calif., Feb. 7, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that it has appointed Mr. Michael Okada as Chief Financial Officer, effective February 5, 2013. Mr. Okada has been the acting Interim Chief Financial Officer of the Company since February 2012.
No it isn't, except that they have the confidence in his decision making to remove the interim title and name him permanently. You don't keep someone who is not a fit and does not have the common vision of a management team. So it is much bigger than what you make it appear.
No you are correct not a big change but symbolical of what is to come. Put yourself in the new CFO's shoes would you really want your name placed out there for millions of people to see if you knew the company was going to crash and burn???? Now on the other hand if you thought or had a good idea that 2013 would be a great year for the company to turn around and become successful you might want your name in lights as to get some credit at the end of the year for what you helped to accomplish. I'd say the former intern CFO and now official CFO has a really good idea what the company is taking in and expected to take in this year...........and I'm betting having his name in lights today was no problem for him.