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Will Ashworth

A CEO Shakeup Just Tanked This Stock. How to Play It Here.

Mohawk NKE MHK SP Global Market Intelligence NIke

Flooring specialist Mohawk Industries’ (MHK) stock fell 7% on Monday after CEO Jeffrey Lorberbaum and some of the family’s trusts reported significant stock sales ahead of Lorberbaum’s retirement on Sept. 30.

Lorberbaum has been Mohawk’s CEO since January 2001. Twenty-five years in the top job is a long run for anyone. At age 71, retiring’s a smart move. The stock sales were clearly planned long in advance.

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