re: Ann: Appendix 3Y- Change of Director'...
To be blunt
PC and DL are extra baggage/passengers if you like, going forward.
Once PC is relieved of his CEO duties, he should not be entitled to any non-executive director role. Is this role voted on by other directors only, or is this part of a holders vote once on Nasdaq?
Re DL, I am not sure how good or not he is as a CFO of the company - certainly as far as my communications (email, phone and face to face), I find him unimpressive, however, he seems to always be the first point of contact for shareholder enquiries about the company in general - I'm not sure whether this should actually have been part of his role.
The ingredients are either stale, because the soufle' has still not gone into the oven yet, or the ingredients were wrong, because the soufle' collapsed. Either way, the US represents a fresh start, so this implies a FRESH START.
2 ex NABI directors and 2 poorly performing Biota directors are baggage. I'm prepared to give Jim Fox the benefit of the doubt. There are going to be 4 wasted executive spots in the new Biota. I'm prepared to give Russell Plumb 12 months to assume control and to make the hard decisions as CEO, but ultimately, our "rock star" must demonstrate his leadership and cull the herd, so to speak.
BTW, in the Sydney meeting, PC, did offer a slightly more, let's say, flamboyant description of the new CEO than just a "Rock Star".
BTA Price at posting:
70.0¢ Sentiment: Hold Disclosure: Held
