Petrus Advisers Calls on Temenos to Oust Interim CEO Immediately.

Activist investor Petrus Advisers has called on Temenos AG to immediately replace their interim CEO, Andreas Andreades, and address allegations made by short seller Hindenburg Research. Petrus Advisers, which owns slightly over 2% of Temenos shares, has been advocating for Andreades's removal since 2022. Temenos shares have dropped over 30% since Hindenburg Research published a report accusing the company of "major accounting irregularities" and manipulating earnings. Petrus Advisers acknowledges that some of Hindenburg's allegations are based on hearsay, but still criticizes Andreades for prioritizing short-term gains over long-term value creation. [Extracted from the article]

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