Ann: Director Resignation and Appointment. Resignation of CFO., page-14

Things happening outside their control (e.g. customers changing their mind on product roll-out) isn't necessarily a black mark against management. What would be a black mark is a big (+15%) EBITDA downgrade from the previously guided "flat" (i.e. ~NZ$25M), because that would indicate recklessness in their budgeting procedures (i.e. aggressively forecasting new business wins despite very difficult market, or assuming EoN was going to rapidly roll out when it was obvious that it merging with SSE had a likelihood of impacting implementation schedules).