Abrdn CEO Stephen Bird Steps Down, Citi Analysts Discuss Potential Impact on Business

In a surprising turn of events, Stephen Bird has announced his resignation as CEO of Abrdn, sparking speculation about the future of the company. However, according to Citi, this move may actually reduce the likelihood of the business being broken up.

Jason Windsor, the former chief financial officer who has now taken on the role of interim CEO, recently met with Citi to discuss the company’s future plans. During the meeting, Windsor reportedly dismissed the idea of breaking up the company and instead focused on restoring profitability within the investment division.

Citi analyst Nick Herman, who currently has a ‘hold’ rating on Abrdn’s stock, warned that this decision could have negative implications for the company’s shares. Under Bird’s leadership, the company’s stock has fallen sharply, leading to concerns about its future performance.

As Abrdn searches for a permanent successor to Bird, investors will be closely watching to see how Windsor’s leadership will impact the company’s direction. With the potential for a shift in strategy towards profitability, Abrdn’s future may be looking more stable than previously thought. Stay tuned for further updates on this developing story.