Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Why Central Garden & Pet Shares Fell

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

 Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Central Garden & Pet (NASDAQ: CENT  ) were getting sent to the pound today, falling as much as 11% after the company named a new CEO.

So what: John Ranelli will replace outgoing CEO Bill Brown as of Feb. 11, though Brown will stay on as chairman. The announcement seemed to catch Wall Street off guard, as there had been no warning of Brown's departure. In many ways, Brown is the face of the company, serving as chairman since 1980, and also as CEO from 1980 to 2003 and then again from October 2007 to now. Ranelli is by no means a newcomer to the company, serving on the board since 2010, and he previously held the CEO title with other consumer-products companies and served as a senior executive at companies such as Timberland and Deckers Outdoor.

Now what: It may not be surprising to see a stock take a fall when it's longtime leader departs. Brown is 70, though, so the company has probably been preparing for a transition. Investors who remember former CEO Glenn Novotny's tenure may be nervous, as the stock crashed in 2007 once growth slowed, but there's no evidence to believe Ranelli's leadership will lead to the same result. Brown will be staying on as chairman, and executive Gus Halas will assist Ranelli with the transition.

Don't miss the next update on this company. Add Central Garden & Pet to My Watchlist.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2185454, ~/Articles/ArticleHandler.aspx, 9/25/2016 10:17:26 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 days ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:00 PM
CENT $25.37 Up +0.30 +1.20%
Central Garden and… CAPS Rating: **