Blumenthal's position is now untenable, as they say. He'll soon be booted back to obscurity. Our Swiss and US Directors won't put up with antics like this from any hillbillies Down Under. He definitely needed Creso more than the company needed him - good on the resume, prestige position, high-profile ASX presence, etc.
The fundamentals of Creso are still strong and we're not the first Corporation to have it's Chairperson axed under dubious circumstances - think AMP, Westpac and, more recently Australia Post - and we won't be the last.
There is no shortage of biotech professionals who would be willing to steer Creso into it's next phase as Chair.
I had forecast a good week for Creso this week with some positive sentiment building around our sector ............ obviously, that ain't gonna happen ! This is out of left field but take some pain now and rebuild stronger in the near future ............ like many others have done before us.
CPH Price at posting:
12.3¢ Sentiment: Buy Disclosure: Held
