My interest is piqued in the reasons behind this. It is a “with immediate effect” termination, and while there is the obligatory “thank you for your service” and “tireless efforts” cliche, the rest of the wording of the announcement leaves a big question mark. He was clearly asked to resign, not the other way around. And FRS is not at a strategic transition point e.g. from explorer to developer, so change of skill set requirements is not the impetus here. Regardless of share price decimation too, a listed company board will rarely exit a new MD without giving him at least a year in the role. Very curious indeed.
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