Awww, shucks. You hate to hear about people leaving your favorite funds. And Third Point is definitely one of our favorites.
Third Point told investors this week that three senior executives are leaving the firm: Bruce Wilson, chief operating officer; Devin Dallaire, chief risk officer, and Tom Kratky, head of investor relations and marketing. The trio is being replaced internally.
In a May 12 letter, Third Point founder Dan Loeb wrote that "over the recent months, it became clear to me that we have grown the right leaders to assume greater responsibilities at this time." As a result, and in consultation with Wilson, Dallaire and Kratky, "we came to a mutual understanding that the firm had evolved and, largely as a result of their efforts, was well positioned to carry on without them," Loeb wrote.
You have to give it to Loeb, he writes great copy.
Three To Leave Third Point [Absolute Return Magazine]