(Il Sole 24 Ore Radiocor) - Milano, 13 ott - Nexans shares were sharply lower after the French cable manufacturer announced it had decided to "part ways" with CEO Christopher Guerin and was nominating Julien Hueber to replace him with immediate effect.

At 0755 GMT, Nexans shares were down 7.83% to 116.50 euros in Paris trade.

"The unexpected CEO change at Nexans came as a surprise to us and resembles the previous CEO change in 2018," JP Morgan analysts said in a note to clients.

"The Board of Directors wishes to create a new momentum to further optimize performance while executing the roadmap which was presented during the last Capital Market Day," Nexans explained in a statement.

Hueber is the executive managing director of PWR Grid & Connect Europe. He has been a member of the Nexans executive committee since 2018 after joining Nexans in 2002.

Guerin has also been with Nexans for 23 years, the last seven.

as CEO.

(RADIOCOR) 13-10-25 10:03:08 (0162) 5 NNNN