FRANKFURT (dpa-AFX) - The downward trend at Suse continues after the resignation of Chief Financial Officer (CFO) Andy Myers announced at the end of the month. On Tuesday, shares in the Linux specialist most recently fell by a further 3.9 percent to 13.34 euros, making them one of the biggest losers in the small-cap index SDax.

Borsianer evaluated the Personalie however rather positively. Only three months after the departure of CEO Melissa Di Donato and the profit warning in May, the appointment has led to further uncertainty, wrote analyst Toby Ogg of U.S. bank JPMorgan. But the appointment of new group leader Dirk-Peter van Leeuwen in early May and the search for a successor to Myers has the potential to significantly change the longer-term investment backdrop, he added. The market is now likely to await the quarterly results on July 6 to determine whether the company's full-year targets are certain and to get the first signals from the new boss on strategy going forward.

For Charles Brennan of U.S. analyst firm Jefferies, Myersa's resignation does not come as a complete surprise, given the company's recent frequent misses of targets. With the previous departure of the boss and Myers, both protagonists of the Borsengang are now off the board in 2021. This clears the way for a revision of the unsuccessful corporate strategy. A Borsen trader also spoke of the chance for a completely new start.

Goldman analyst Mohammed Moawalla stressed that the transition in the finance department is on track, according to the company. Interim incumbent Jonathan Atack reported to Myers as vice president of finance and investor relations for the past two years, he said.

Given Suse's borse history, many investors are likely hoping things can only get better. Since the beginning of the year, the stock has lost about 21 percent, which means one of the bottom SDax positions.

At the time of the leap onto the trading floor around two years ago, the issue price was 30 euros. Since then, shareholders have needed good nerves. The rise to 43.60 euros at the beginning of 2022 was quickly followed by disillusionment. Despite interim recovery phases, the share subsequently made it back to its issue level at most, but was unable to hold its ground there permanently either. The previous low of 11.82 euros dates from May of this year, and the current valuation level represents a loss in value of almost 56 percent for investors from the very beginning./gl/tav/stk