Gazprom Shares Soar as Investors Expect Management Changes - Bloomberg

Gazprom Shares Soar as Investors Expect Management Changes - Bloomberg:

Gazprom PJSC surged to a decade-high in Moscow on speculation the world’s largest natural-gas exporter will make more changes to senior management.

The shares rose as much as 17% to 251.65 rubles on Monday, the highest since August 2008. The stock has recently rallied on plans for higher dividends, while moves by Chief Executive Officer Alexey Miller to replace several long-serving lieutenants have prompted expectations of more hires and governance changes.

“Market speculation about new executive reshuffles and appointments at Gazprom are now moving the shares,” Andrey Polischuk, a Moscow-based energy analyst at Raiffeisenbank, said by phone. “The market hopes the new executives will increase the company’s efficiency.”