Leica Shares Take a Dive after News of CEO Resignations

After announcing the resignation of CEO Ralf Coenen on April 15th, 2005, shares of Leica Camera AG dropped more than 20 percent. This news comes following their announcement earlier in the week, that the company would have a net loss of 15.5 million euros, ($20.1 million USD) for the 2004-2005 fiscal year.

As Leica Camera AG has been attempting to secure lines of credit through their banks, they will attempt to restructure their buisness model. In the interim, Josef Spichtig, who has been working with the company as a consultant, will serve as CEO.