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Stock impact report

TD's board should consider CEO succession plan: professor [BNN Bloomberg (Canada)]

Toronto Dominion Bank (The) (TD) 
Last toronto dominion bank (the) earnings: 2/27 06:30 am Check Earnings Report
Company Research Source: BNN Bloomberg
Richard Leblanc, a professor of governance, law and ethics at York University, said in an interview with BNN Bloomberg Wednesday that the U.S. Department of Justice's investigation has cast a “shadow” on TD Bank. Earlier this month, Jefferies Analyst John Aiken said that TD potentially faces a “lost decade” due to its role in an alleged money laundering scheme Leblanc said that given the situation, TD Bank's board should have a conversation on the “tenure of the CEO.” “So Succession planning should be on the TD board's radar screen and in particular, ‘should we go outside (the organization)?' (or) ‘Do we have internal talent that is CEO-ready?'” Leblanc said. He noted that Bharat Masrani, TD Bank's CEO, is 67 years old and has been in his current role for 10 years. “The argument for waiting it out is that you've got a seasoned CEO at the helm and they understand what has occurred. They're able to make it right,” Leblanc said. “The counterpoint to that is, it's a time for ch Show less Read more
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