The appointment of a replacement CEO when an extended search has Cormark analyst Richard Tse feeling optimistic regarding ViXS Systems (TSX:VXS).
Yesterday, ViXS declared it had appointed Sohail Khan as CEO, effective directly. Khan’s in depth background includes capital markets expertise with the spinout and stock exchange initial public offering of Agere Systems from lambent Technologies and time as president of the integrated circuits division of lambent Technologies electronics.
“I am trying forward to connection the ViXS team. ViXS has foremost technology, exceptional engineering talent, and a history of innovation and execution,” aforesaid Khan. “My goal is obvious, to commercialize ViXS’s technology and deliver improved execution and money performance, making price for all stakeholders,” declared Mr. Khan, president and chief officer of ViXS Systems.”
Tse says he's hopeful that the “trapped value” he sees in ViXS is surfaced over succeeding year. The analyst aforesaid Mr. Khan’s predigree makes him optimistic regarding the appointment.
“While we've got nonetheless to satisfy Mr. Khan, the background provided in ViXS’ release suggests he has appreciable depth of expertise and leadership positions during this broad market with over thirty years of trade expertise with public and personal technology corporations,” said Tse. “From what we have a tendency to may gather, his former expertise seems to line up with what we have a tendency to regard ViXS’ desires from a leadership perspective nowadays and his appointment couldn't have return any sooner.”
In a analysis update to shoppers nowadays, Tse maintained his “Buy (Speculative)” rating and one year target worth of $1.50 on ViXS Systems.
