Gazprom Shares Soar as Investors Expect Management Changes
- Stock jumps as much as 17% to highest price since August 2008
- Traders speculate that new executives would boost efficiency
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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.