I got into this stock as a pure speki @ 20c because it seemed non fungible tokens in games seemed like a good idea to take a punt on. The growth in Animoca Brands has been amazing to watch as they have been instrumental in establishing and incubating the industry. All this wheeling and dealing in tokens and complex structures, ad a few governance red flags over sloppy reporting, and I can understand how it was too much for the ASX to handle eighteen months or so ago.
Governance has been my biggest concern too and I've banged on about it here a few times. It doesn't matter how fast and furious we or the industry is growing it can all be a financial illusion, a speculative house of cards that comes crashing down if there is no solid governance and proper oversight of the financials or accountability to the shareholders.
Well this announcement, which I received by email, is the first sign that Animoca are finally getting serious about corporate governance. It does appear that Animoca are getting themselves organised at the corporate level so I am a lot more hopeful that we are taking the necessary steps to get our house in order for a relisting.
At a glance, Evan Auyang has an impressive CV:"Animoca Brands also appointed Evan Auyang as its group president. Evan brings extensive experience in corporate leadership and organizational scaling across his 27 years of experience spanning finance, management consulting, and corporate leadership.
"Evan was previously managing director and head of international for the global expert insights firm GLG, where he ran and grew its business spanning Europe and Asia across 15 locations. Prior to GLG, Evan was the deputy managing director of the Kowloon Motor Bus Company (KMB), one of the world's largest commercial public transport companies, and a board director of Transport International Holdings Limited, the parent company of KMB. Before that, he was an associate partner at McKinsey & Company, which he joined after working at Citigroup’s derivatives structuring and marketing unit.
"Evan serves on several boards as an independent non-executive director, including Sun Hung Kai & Co, Asia Financial Holdings, and Urban Renewal Authority. He is also the chairman of non-profit public policy think tank Civic Exchange, and has been appointed as advisor/committee member to multiple civic, governmental and non-profit organizations, including Our Hong Kong Foundation, Independent Commission Against Corruption (“ICAC”), Hong Kong Council of Social Service, and others. Evan obtained his undergraduate degree in Economics and Political Science from Brown University and his MBA degree from the Kellogg School of Management."
Help yourself to the free coffee and fruit Evan.
Changing sentiment from None to Hold.
