Leica Fires their Chairman
Some hours ago the news agencies announced:
"Steven K. Lee Dismissed as Chairman
The Supervisory Board of Leica Camera AG today removed Steven K. Lee as Chairman of the Board of Management of Leica Camera AG with immediate effect.
At the same time the Supervisory Board appointed Dr. Andreas Kaufmann Chairman of the Board of Management for the period until February 28, 2009."
I wonder why and what this means for the future of the Company. I thought the M8 was a huge financial success for Leica.