Slaters, MBs are from the world of the Labour Movement. They get much of their work by referalls from unions. Fowlie was an ALP operative. These guys aren't from the business world.
I'm not knocking them for that, it's the world I come from too.
But for a publicly listed company? Grech is an accidental CEO.
Moreover, he is a lawyer CEO on a board full of lawyers. Isn't any business in trouble when the accountants and lawyers start running it?
Grech has made two fatal mistakes. One, he dribbled out bad news last year, rather package it together. And two, he reaffirmed guidance and then shortly after dumped his own assurance like a big turd on the market.
Shareholders need someone with big business experience as CEO now. We need someone from the 'other side' to the Labour movement, like a Roger Corbett who can run it properly.
I believe in the future of SGH. But do you want to see the share price rocket now? Sack Andrew Grech.
SGH Price at posting:
59.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)