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Forvia's stock fell 5.02% to €7.526 following the announcement of a CEO change and a downgrade by UBS. Patrick Koller will step down on March 1, 2025, to be succeeded by Martin Fischer, while UBS downgraded its rating from Buy to Neutral, citing significant uncertainty and pressure on profit margins.
Forvia's stock fell 5.02% to €7.526 following the announcement of a CEO change and a downgrade by UBS. Patrick Koller will step down on March 1, 2025, to be succeeded by Martin Fischer, while UBS has shifted its rating from Buy to Neutral, citing significant uncertainty and pressure on profit margins.
UBS has downgraded its recommendations for Forvia and Valeo to "neutral" amid a challenging outlook for the European automotive sector in 2025, citing price pressures, market share losses in China, and stringent CO2 regulations. The bank warns of limited profit margins and volatility in production schedules, while maintaining a "buy" recommendation for Stellantis due to its inventory management. Forvia's new CEO, Martin Fischer, will take over in March 2025 as the company faces significant restructuring risks.
Martin Fischer
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Forvia Announces CEO Change Amid UBS Downgrade and Market Decline
Euro
FORVIA
Faurecia SE
HELLA GmbH & Co. KGaA
Martin Fischer
Michel de Rosen
Patrick Koller
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16:09 03.12.2024
Forvia Appoints New CEO Amid UBS Downgrade and Market Challenges
Euro
Faurecia SE
Forvia SE
HELLA GmbH & Co. KGaA
FRA
Martin Fischer
Michel de Rosen
Patrick Koller
Show more
16:09 03.12.2024
UBS Downgrades Forvia and Valeo Amid Gloomy Automotive Sector Outlook
15:08 03.12.2024
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