On Monday, Synergy Pharma (SGYP) made a surprise announcement that the long time CFO was retiring on July 1. At the same time, the company hired the former CEO/CFO of Biodel that is now Albireo Pharma (ALBO). The stock held key support at $4 this week, but the move is even more perplexing considering the approval of Trulance and the history of Biodel under the leadership of Gary Gemignani. Mr. Gemignani was hired as the CFO of Biodel back in August 2014 when the stock traded around $60 and the reverse merger with private Albireo was announced last May when the stock traded below $15. While the stock action probably can't be blamed entirely on the CFO, it's note worthy that Albireo hired Thomas Shea as the CFO a couple of months after announcing the Biodel deal. The stock is only worth about $130 million now after rallying above $20 questioning why Synergy Pharma is eager to hire him. The stock price appears right, but the details and timing of the CFO hiring are still odd. Synergy Pharma should've been a hot commodity for a new CFO, instead the company went with a CFO left out of the executive shuffle in a small reverse merger. More details are needed to sort out this sudden change, but traders can use $4 as a trade that might have tons of upside if the CFO change turns into a non event. Disclosure: No position