Ann: MD/CEO AGM Presentation, page-94

I had a chance to meet Jason and Bob for which I am grateful. My impressions were that Bob’s style and intellect, on display in the presentations with Dirk (was it really only last year?), were even more honed with a clear stamp of authority. He’s thoughtful and he has an affable style as well as showing a clear understanding of the market.

I liked what I saw of Jason as well. His background is very useful. It’s not often you get a CFO who has been on the pointy end of sales as well as supply chain operations

I was less interested in what was happening with sales forecasts because in the end these will happen if the issues of the past have been addressed and because predictions are just that - predictions. So I didn’t ask!

I wanted to know about the sales processes. So we discussed the understanding that had developed around sales and who the economic buyer really was as well as the developed understanding that it is the end consumer and retail sales that drive the manufacturers.

We discussed the value that the analytical tool had added to buyers’ understanding of exactly how the Alexium products were differentiated - an understanding that had not previously been demonstrable.

We talked about the remediation of the customer book and operating expenses and my view was that it had been thoughtful and thorough. I’m reading between the lines but this was a big job and it is probably testament to everyone involved that it has even been possible.

Jason had a chance to take a good look before he made the decision to join after 20 years with his previous employer. You don’t make that sort of decision if you think your job offer is coming from a basket case. That matches the conclusions we had already drawn about Rasheen.

We also talked about integrity. I thought it important to see how they responded. I’m satisfied that integrity is an important value to those two and I had already satisfied myself on that in respect of Sue.

Of course I’ve been horribly wrong before and acknowledge that I failed to pay attention to the niggles I’d had or give enough credence to doubters or conflicting information even when it was in front of my face. I do now understand some of the dynamic that was at work and have spent a lot of time in reflection over that. It has however made me alert to intuitive responses and underlying anxieties about people. I don’t experience these at present.

So I walked away with a good feeling. The future feels far more robust than the past.

P