Ann: Cokal Appoints New Chief Executive Officer, page-22

Hi Perret,

Agree. Plenty of owner / founders, technology geniuses or critical persons leading listed businesses. Often they introduced seed capital or are directly indispensable to the business. We do not have that here.

Karan has not covered himself in glory over past 18months. Allowed the commercial interests of the business to be held hostage to project management issues. He has presided over more wealth destruction than most of us can imagine and … prevented a golden opportunity to pay down debt. Specifically, Ahanna debt.

Ok, let’s allow for lots of hassles and unexpected surprises. That’s fair. Even after allowing for x2 orangutans, a camouflaged andesite dyke, an early rain season, no logs, no trucks and any other thing you can think about … it has not been a good show.

The above was slightly off topic but the link back is that someone getting the role of CEO against this backdrop is almost unheard of. A bad look. I’m not sure if any of us know whether any external candidates were called, considered, interviewed. Is the Ahanna nominee truly the proper choice for CEO at CKA?

To fully link back to your point, things look really messy to me. Having an executive director in a listed business doesn’t bother me … but all the circumstances that surround this one make me nervous. I think most now see the direction things are going in. Sad face.