I guess I'll weigh in here and add my support to InfoJoe's insight.

I live in a corporate world everyday. I can tell you that "leaving to pursue personal interests" is corporate speak for being fired.

Many of us here, myself included have been outraged by GT's weak leadership and his sometimes bafoonish statements such as soon after Easter and my favorite "we're in the bleachers". The first time he showed any balls was when he threw Ortega under the bus. My guess is that her actions were in part motivated by that statement. It was a bold risk and I applauded him for it, but in the end it failed.

I never believed in the "management is in closed door intense negotiations" as having anything to do with GT. Fung has been the driver behind this from the beginning.

If I had to guess I would say GT's departure was part of a strategy and one that only time will tell if it works. To say that a CEO leaving is never a good thing is a generalization and often not true. I know of several companies very large who the market saw the CEO's departure as a positive.

Still, KRY is a different game since it is mostly a retail holding with institutions only around 34%. I am sorry to say that most retail investors are quite ignorant and react from an emotional basis.

From all that I have read over the years, I view Fung being in charge as a positive. If I were an institutional holder I would see the same, but I would also expect the market to go down as retail sells. I'd be waiting for that to increase my position.

I would not be surprised to see us go down, but I also think there will be many who see Fung as a better champion for KRY and shortly we will go up. Retail selling usually takes about 3 days to climax, so I look for it sometime between tomorrow and Friday/Monday.

Remember who has been the one constantly in VZ....Fung. Whenever the press has looked for comments from KRY or GRZ it has been Richard Marshall for KRY and Doug (pres of GRZ) for GRZ. Thompson has been a nonentity.

Asside from selling for a trade and a better entry, I would not sell. As a matter of fact I will not be selling on this news because I believe it is part of a deal. If Ortega has become a loose cannon and she was pissed off by GT's comments to Bloomberg, then we may see a better move.

Just remember that most longs do not have the insight seen on this board and they will sell. For me, I'm holding.