Crusader King’s recent retirement from his long-held Senate post has fueled speculation that he will also soon retire from his position as CEO of King Motor Industries. For now, Crusader King still owns 51% of the company’s shares, but has indicated that he may be planning to transfer his stock to one or more family members in the near future. This uncertainty has shaken the confidence of the company’s investors; although KMI share price has seen modest growth since Senator King's retirement announcement, it has consistently underperformed the market index.
Tonderay Stock Exchange shows good growth of KMI shares, credit: drone 100000.
Recently-elected senator Praetorian King has emerged as heir apparent to his grandfather’s business empire. The political newcomer is a veteran of the Antares Pioneer Corps, where he participated in numerous conflicts across the duration of his long service record.
In the Vrul War, King had significant combat experience both on the ground and in the skies above Torix. He continued to serve as an officer in both the Anthorian and Beldros Wars until the Battle of Adlapus, where his ship was hit by an enemy plasma bolt, resulting in the traumatic amputation of his right arm.
Lauded as a war hero upon his return to Sabmadi, Praetorian King was elected to his grandfather’s former senate seat in a landslide. Many pundits have postulated that this might be an indication that Praetorian will also be selected as successor for the CEO position at King Motors.
In a statement to the press, Senator King the Younger clarified his grandfather’s plans for the future of King Motors, saying that "his age has left him unable to personally attend to the business of the company." As a result, Praetorian King will serve as acting Chair of the Board in the patriarch’s stead for the immediate future.
While Praetorian King is interested in expanding the scope of the company into the military and aerospace markets, the new Senator also expressed that he does not believe himself to be the best fit for the CEO role. To close his statement, King wrote:
Due to the fact that my education is centered on military affairs, the company will be searching for someone more capable than me for the position of CEO. If unable to find someone, only then will I take the position.
Following the announcement, KMI shares rallied slightly, gaining 0.66 points and ending the day at 88SR.
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