Samuel Eisenstadt, Value Line Inc.'s 87-year-old research chairman was let go Friday last week, Bloomberg reports.

Value Line's new CEO Howard Brecher notified him on Friday that his services were no longer needed, according to the report.

“There was no explanation,” Eisenstadt told the wire service. “I’m not retiring. That would imply that I’m ready to leave the business, which I am not.”  

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